Steel firm says anti-dumping case verdict due soon
US Department of Commerce expected to hand down decision on October 15
Al Jazeera Steel Products has said that it expects a verdict to be announced by United States authorities in an anti-dumping case it has been cited in next month.
Lawyers acting for US-based manufacturing companies sparked an action by the US Government's Department of Commerce (DoC) in the middle of last year, in which it began to investigate transactions made by firms in the UAE, Oman, India and Vietnam.
Following a year-long investigation period from October 2010-September 2011, the DoC filed lawsuits alleging that steel was being sold below its fair price.
"We subsequently hired a law firm in United States to represent us, and they worked closely with us and replied on our behalf to the DoC," the company said in a statement to the Muscat Securities Exchange.
Despite this, a preliminary report applied a dumping duty on the firm.
Al Jazeera Steel's lawyers have subsequently filed rebuttals to the department's claims, and a verdict in the case is due to be delivered on October 15.
If the DoC finds that the duties that should be below 2%, the case will be dismissed. If it finds that higher duties should be imposed, the xase will then be passed on to the International Trade Commission and a hearing will take place two days later.
The ITC will have to give its verdict "as to if the US economy has been harmed by the exports of Al Jazeera steel within the period of investigation" by the end of November.