The Washington-based International Trade Commission(ITC) has sided with four American steelmakers that accused South Korean steel producers of violating antidumping rules.
The ITC unanimously said in a preliminary ruling on Wednesday that South Korean makers of ferrovanadium had adversely affected the U.S. steel industry by selling at less than fair value.
Vanadium is a rare metal added to toughen steel products and are usually produced by alloying it with iron.
The preliminary ruling comes after the Vanadium Producers and Reclaimers Association(VPRA) and its four member companies filed antidumping suits against South Korea-produced ferrovanadium on March 28th.
The ITC’s recent ruling precedes a U.S. Department of Commerce(DOC) preliminary verdict on the same case expected in September. The DOC is expected to make a final ruling in November.
The U.S. imported about one-point-six million pounds of ferrovanadium from South Korea last year, worth close to 16-point-three million U.S. dollars.