U.S. steelmakers file lawsuit

U.S. steelmakers file lawsuit

WASHINGTON (AFX): Nine U.S. steel companies have filed trade complaints against 11 countries claiming a surge in unfairly priced imports.

The complaints, filed with the Commerce Department, target imports of hot-rolled carbon steel from Argentina, China, India, Indonesia, Kazakhstan, The Netherlands, Romania, South Africa, Taiwan, Thailand and Ukraine.

The nine companies and the Independent Steelworkers Union charge that output from these countries has either been "dumped" on the U.S. market at prices below market value or has benefited from unfair government subsidies.

If the Commerce Department upholds the complaints, such imports could be hit with heavy punitive duties.

The companies lodging the complaint are Bethlehem Steel, Gallatin Steel, IPSCO, lTV Steel Company, National Steel, Nucor, Steel Dynamics, US Steel Group and Weirton Steel Group.