Omani steel firm has 'dumping' verdict overturned
ITC rules that steel pipes sales has not damaged US industry
Al Jazeera Steel Products has announced that the United States' International Trade Commission (ITC) has overruled the country's Department of Commerce's decision to impose 'anti-dumping' duties and tariffs on the company and on other suppliers from India, the United States and Vietnam.
Following an investigation into steel sold into the US from October 2010 to 2011, The Department of Commerce last month imposed 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.
It had argued that steel exported to the US market had been had been sold at below market price, thereby potentially damaging the prospects of US producers.
However, the company had appealed its case to the ITC, which has now ruled that US industry "has not been materially injured or threatened with material injury" through the sales.
As a result, the company's export of steel pipes to the US "will not attract any anti-dumping duty and countervailing duty", it said in a statement to the Muscat stock exchange.