US imposes anti-dumping penalty on Oman steel firm
Al Jazeera Steel Products appeals to International Trade Commission
The US Department of commerce has ruled that steel which was sold into the country between October 2010 and October 2011 by Al Jazeera Steel Products and others was sold at below market value.
The department has been running an ongoing investigation into a number of deals involving steel which was imported into the US from the UAE, Oman, India and Vietnam during the period.
Al Jazeera Steel Products has informed the Muscat Securities Exchange that following its ingestigation, the US Department has placed an anti-dumping duty of 5.81% onto the transactions and a countervailing duty of 4.13% on circular welded steel pipes imported into the US.
The company said that it has "already taken up this matter with International Trade Commission (ITC)" with a view to having the rates that have been imposed reconsidered.
The firm said that the ITC will give its verdict on the case on November 15.