Curated News
By: NewsRamp Editorial Staff
May 10, 2024
USITC Determines Ferrosilicon Imports Causing Material Injury to U.S. Industry
TLDR
- USITC finds ferrosilicon imports from Brazil, Kazakhstan, Malaysia, and Russia causing material injury to U.S. industry.
- Preliminary determination based on petitions filed by CC Metals and Alloys, LLC and Ferroglobe USA, Inc. on March 28.
- Vote brings us closer to ensuring a level playing field and preserving American industry, a matter closely related to national security priorities.
- Ferrosilicon is a critical input used to produce steel and foundry products, impacting significant national security priorities and the American industry.
Impact - Why it Matters
The USITC's affirmative determination in the trade case against ferrosilicon imports highlights the potential harm inflicted by unfair trade practices. The outcome of the investigations by the U.S. Department of Commerce will have significant implications for the U.S. industry, workers, and consumers, as well as national security priorities. This news sheds light on the ongoing challenges of unfair competition in the global market and the efforts to restore fair trade practices.
Summary
The U.S. International Trade Commission (USITC) has determined that ferrosilicon imports from Brazil, Kazakhstan, Malaysia, and Russia are causing material injury to the U.S. industry. The unanimous vote comes in response to petitions filed by CC Metals and Alloys, LLC and Ferroglobe USA, Inc. The companies allege that unfairly priced and subsidized ferrosilicon imports are injuring the U.S. industry and its workers, impacting national security priorities. The U.S. Department of Commerce has initiated antidumping and countervailing duty investigations into the imports, with determinations expected in 2024.
About the CC Metals and Ferroglobe
CC Metals is a leading manufacturer of ferrosilicons and magnesium ferrosilicon inoculants, while Ferroglobe is a world-leading producer of silicon metal and ferroalloys serving various end markets globally.
Source Statement
This curated news summary relied on this press release disributed by News Direct. Read the source press release here, USITC Determines Ferrosilicon Imports Causing Material Injury to U.S. Industry
