18
AMERICAN NEWS
Anti-dumping: Why the U.S. Trade
Commission rejected tariffs
By John Wolz
editor@FastenerNews.com
The unanimous U.S. International Trade Commission decision to terminate the anti-dumping investigation
into standard fastener imports from China and Taiwan was prompted by at least two factors.
Nucor Fasteners fi led the original petitions in September 2009 “At the same time, the domestic industry’s U.S. shipments of
and the ITC unanimously rejected Nucor’s claims in November. In (standard fasteners) decreased from 155.3 million pounds in 2006
December Nucor fi led an appeal. to 150.1 million pounds in 2007 and then increased to 155.6 million
The ITC’s November ruling responded that standard fastener pounds in 2008.”
imports did not gain more market share from 2006 to 2008. The ITC found “pervasive underselling” by imports from China and
Secondly, Nucor Fastener “failed to provide adequate details” to Taiwan, but concluded that imports had no “signifi cant adverse price
support allegations that it was losing sales and revenues to cheaper effects”.
imports, according to the ITC. “The underselling did not lead to signifi cant price depression or
suppression or to a signifi cant gain in market share by the subject
CSSF: U.S. producers’ capacity, production, and capacity utilization, imports at the expense of the domestic industry, and we do not fi nd
2006-8, January-June 2008, and January-June 2009 that cumulated subject imports had a signifi cant adverse impact on
the domestic industry’s condition.”
350,000 60
“Steadily improving unit sales values between 2006 and 2008
offset (in 2007) and then augmented (in 2008) fl uctuations in sales
300,000
quantities, resulting in a 22% increase in the absolute value of sales.”
50
Operating income followed suit, with the domestic industry
increasing its unit sales values by several cents per pound more
250,000
than the US$0.14 per-pound increase in unit operating costs largely
40
attributable to raw materials. The domestic industry’s US$12.6
R
200,000 a
million operating income in 2006 improved to US$17.1 million in
tio (per
2007 and US$21.7 million in 2008.
30
c
The ITC stated, “The improvement in fi nancial results between
y (1,000 pounds)
en
tit
150,000 t)
2006 and 2008 was widespread, as eight of the nine domestic
uan
Q producers reported increases in the absolute value of operating
20
100,000
profi ts and the unit value of sales, and seven reported increases in
the absolute value of sales and in their operating margin.”
10
“We fi nd a general lack of correlation over the period examined
50,000
between the large and relatively steady volume of low-priced
subject imports and either prices of the domestic like product, which
0 0
improved during the period examined, or the domestic industry’s
2006 2007 2008 Jan-Jun 2008 Jan-Jun 2009
condition.”
Capacity (Y1) Production (Y1) “We therefore do not fi nd that there is a reasonable indication
Capacity utilazation (Y2)
that cumulated subject imports from China and Taiwan are having an
(Courtesy U.S. ITC) adverse impact on the domestic industry.”
Imports ‘stable’ despite underselling U.S. producers could not prove lost sales
The ITC’s 137-page public report, “Certain Standard Steel Although Nucor Fastener alleged losing sales and revenue to
Fasteners from China and Taiwan,” shows that the Commission standard fastener imports from China and Taiwan, the company
rejected Nucor Fastener’s petitions because standard fastener “failed to provide adequate details to support these allegations,” the
imports, by volume, have increased less than 2% in the past three ITC concluded.
years. “Nucor at times claimed that it does not keep detailed
U.S. consumption of standard fasteners, by quantity, declined information on lost sales/lost revenues or does not receive detailed
about 3% over the last three years - from 661.3 million pounds reasons for its lost sales/lost revenues from the distributors to
(299 million kg) in 2006 to 642.4 million pounds in 2007 and 641.6 whom it sells,” the ITC reported.
million pounds in 2008. First half 2009 consumption fell to 225 “At other times, however, Nucor reported that it could supply the
million pounds compared with 343.5 million pounds during the fi rst Commission with more detailed information concerning its losses,
six months of 2008. but then submitted only incomplete or untimely data.”
In recent years standard fastener import market share, by Other domestic producers reportedly provided limited information
quantity, increased slightly from 51.3% in 2006 to 53% in 2007, about lost sales and lost revenue allegations, which ITC investigators
before dropping to 51.8% in 2008. could not substantiate.
Fastener + Fixing Magazine • Issue 61 January 2010
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