Cleveland-Cliffs announced that it “applauds” the preliminary determination reached by the U. S. Department of Commerce that producers of Tin Mill Products from China benefit from significant countervailable government subsidies. “The subsidy rate for Baoshan Iron and Steel is 542.55% and for Jingtang Iron and Steel is 89.02%. The rate of 89.02% applies to all other exporters. In addition, Commerce announced that it was initiating an investigation of additional subsidies alleged by Cleveland-Cliffs and the United Steelworks as petitioners. Importers of subject Tin Mill Products will be required to post cash deposits upon publication,” the company stated.
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