December 21, 2009
In an American Metal Market article titled “China PC Strand Facing High Margins,” partner Kathy W. Cannon was quoted. The article discussed high margins that Chinese producers and exporters of pre-stressed concrete (PC) steel wire strand will face if the trade action is successful. In a preliminary anti-dumping determination, the U.S. Commerce Department said that Chinese producers and exporters of PC steel wire have sold the product at less than fair value in the United States.
Ms. Cannon represents the U.S. steel producers in this trade case. She is “pleased with the level of duties, which corroborates the dumping that occurred.” Ms. Cannon also contends, “We alleged very high margins in the petition, so this (preliminary decision finding duties of up to 193 percent) is a vindication that substantial dumping was going on." Kelly Drye will continue to work with the Commerce Department and the U.S. International Trade Commission (ITC) as the trade investigation moves forward. Commerce is scheduled to issue its final determination in March. If the agency and the ITC each make affirmative rulings against PC strand from China, then Commerce will issue an anti-dumping order.