Nippon Steel hits back at dumping charges in U.S.

Nippon Steel Corp. on Saturday criticized the ruling Friday by the U.S. Commerce Department supporting dumping charges against Japanese steel imports and denied that the company’s products were hurting U.S. industry.

“The Commerce Department’s final ruling is only based on the insistence of complainants. We believe the U.S. International Trade Commission (ITC) will acknowledge our argument and make a fair judgment,” the Japanese steelmaker said in a statement.

“We strongly insist that our exports of seamless steel pipes are not injuring U.S. industry,” it said.

The Commerce Department on Friday issued a final ruling backing allegations that Japanese steelmakers are selling seamless steel pipes at unfairly low prices in the United States.

The ruling would be formalized if the ITC, an independent federal agency, makes an affirmative decision in its final ruling expected June 12.

In June last year, the U.S. steel industry and its labor union jointly filed a dumping petition on the products.

The Commerce Department set dumping margins at 107.80 percent for large-diameter seamless steel pipes imported from Nippon Steel, Kawasaki Steel Corp. and Sumitomo Metal Industries Ltd.