Nucor Corp. praised the decision of the U.S. International Trade Commission to extend the antidumping and countervailing duty orders and suspension agreement covering imports of hot-rolled steel from Brazil, Japan and the Russian Federation for an additional five years. The Commission's vote was four to two in favor of extension. The ITC made its decision in its "sunset review" after a full investigation of whether revocation of the orders and suspension agreement would likely lead to the continuation or recurrence of material injury to the domestic industry.
"The orders on Brazil and Japan, and the suspension agreement covering imports from Russia, continue to play a major role in helping the U.S. hot- rolled steel industry to consolidate and become consistently profitable," said Dan DiMicco, Nucor's vice chairman, president and CEO. "We are pleased that the ITC has recognized the importance of these measures. This will not only be good for the domestic steel industry, but, by strengthening the industry, will be positive for our customers as well."