AK Steel Applauds U.S. International Trade Commiss

WEST CHESTER, OH--(Marketwired - Mar 3, 2017) -  AK Steel ( NYSE : AKS ) said today that it strongly supports the unanimous determination by the U.S. International Trade Commission (ITC) that the steel industry in the United States has been materially injured by unfairly traded imports from China of stainless steel sheet and strip. The U.S. Department of Commerce will therefore issue unfair trade orders to impose antidumping duties on imports from China of 63.86% to 76.64%, and countervailing duties of 75.60% to 190.71%. 

"We are extremely pleased with the ITC's decision that America's steel industry has been injured by stainless steel sheet and strip imports from China," said Roger K. Newport, Chief Executive Officer of AK Steel. "We applaud the work of our U.S. government and trade officials to help counteract the injury being caused by dumped and subsidized imports, and drive fair competition in the marketplace."

The ITC's decision successfully concludes antidumping and countervailing investigations following petitions filed in February 2016 by AK Steel along with a number of other steel companies. 

AK Steel AK Steel is a leading producer of flat-rolled carbon, stainless and electrical steel products, primarily for automotive, infrastructure and manufacturing, electrical power generation and distribution markets. Headquartered in West Chester, Ohio (Greater Cincinnati), the company employs approximately 8,500 men and women at eight steel plants, two coke plants and two tube manufacturing plants across six states (Indiana, Kentucky, Michigan, Ohio, Pennsylvania and West Virginia) and one tube plant in Mexico. Additional information about AK Steel is available at www.aksteel.com