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Canadian Steel Industry Lauds Ruling On Unfair Imports
Canadian Steel Industry Lauds Ruling On Unfair Imports.
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[{"type":"text","content":"\n\n\n\n\nTORONTO, Sept. 11 /CNW/ - Canadian steel companies Algoma, Dofasco and\nIPSCO are pleased with a Canadian International Trade Tribunal (CITT) decision\nto continue a Hot-Rolled steel sheet dumping finding against Brazil, China,\nChinese Taipei, India, South Africa and Ukraine, and to continue a subsidy\nfinding against India.\nThe finding is a continuation of the original 2001 ruling which found the\nabove-named countries to have injured Canadian producers by selling dumped and\nsubsidized Hot-Rolled steel sheet into Canada. Dumping is the practice of\nselling a product into another country at less than the price in the home\nmarket, or less than the cost of production. The CITT rulings are valid for a\nterm of five years, and the current ruling will apply until 2011.\nThe finding, made on August 16th, means Hot-Rolled steel sheet\noriginating in or exported from these countries will be required to be at\nmonitored values, leveling the playing field for Canada's domestic producers.\n\"The Canadian steel market has historically been characterized by\npersistent dumping by foreign producers and subsidization by their\ngovernments\" Paul Finley, Vice President of Business Planning and Corporate\nSecretary of Algoma Steel said in a statement. \"Without the continuation of\nthe finding, the Canadian steel industry would have experienced significant\ninjury.\"\n\"We are very pleased that the CITT has found that without the\ncontinuation of the finding, Canadian producers would have been vulnerable to\npredatory and opportunistic trade practices, which would have resulted in\nsignificant distortions and injury to the Canadian Hot-Rolled sheet\nmarketplace\" said Jacques Chabanier, CEO of Dofasco. He continued: \"This is a\nvery important case for Canada. It sends a strong message to countries\nconsidering dumping and subsidy of other steel products into Canada.\"\nDavid Sutherland, CEO of IPSCO, said \"The continuation of the CITT\nfinding is important, not only for Canada, but also for the North American\nsteel industry, as the U.S. already has dumping findings in place against\nthese countries. This addresses the concern that absent the CITT finding,\nCanada would have been used as a back-door for illegally dumped imports into\nthe North American market\".\nThe CITT is vested with the authority to conduct inquiries into whe...