WEST CHESTER, OH--(Marketwired - Jul 22, 2016) - AK Steel (NYSE: AKS) said today that it strongly supports the final determinations by the Department of Commerce in the antidumping and countervailing duty investigations concerning imports of cold-rolled steel from Brazil, South Korea, India, Russia and the United Kingdom.
"We are pleased with the Department of Commerce's final determinations against dumped and subsidized imports of cold-rolled steel," said Roger K. Newport, Chief Executive Officer of AK Steel. "This ruling is an important and significant step to help counteract the injury being caused by dumped and subsidized imports."
Yesterday the Department of Commerce announced antidumping duties on imports of up to 35 percent on imports for Brazil, 34 percent for South Korea, 8 percent for India, 13 percent for Russia, and 26 percent for the United Kingdom. Additionally, the Department of Commerce set countervailing duties on imports of up to 11 percent for Brazil, 58 percent for South Korea, 10 percent for India and 7 percent for Russia.
The cases were filed last year by AK Steel along with a number of other steel companies.
AK Steel is a leading producer of flat-rolled carbon, stainless and electrical steel products, primarily for automotive, infrastructure and manufacturing, construction and electrical power generation and distribution markets. Headquartered in West Chester, Ohio (Greater Cincinnati), the company employs approximately 8,500 men and women at eight steel plants, two coke plants and two tube manufacturing plants across six states: Indiana, Kentucky, Michigan, Ohio, Pennsylvania and West Virginia. Additional information about AK Steel is available at www.aksteel.