International Trade Commission Affirms Anti-Dumping Order Against Foreign Steel Exporters

By Craig Tarasoff

AK Steel, a US-based steel distributor, has seen its stock rise 7% after the ITC’s ruling against its foreign competitors. The anti-dumping order was issued after the commission found that electrical steel imports from several European and Asian countries were damaging the domestic market. China, Germany, Japan, South Korea, Sweden and Taiwan were found to have been causing harm to the US market for non-oriented electrical steel, and will be forced to pay fines as a result. AK Steel now looks to regain losses suffered from depressed electric steel prices. The Street has the story.