(supplied)

Essar Steel Algoma Inc. Applauds the Initiation of Canadian Anti-dumping

and Countervailing Duties Investigations against Steel Plate from India and

Russia

–Following a complaint filed by Essar Steel Algoma

Inc., the Canada Border Services Agency (“CBSA”) has initiated anti-dumping and

countervailing investigations in respect of steel plate from the Republic of India (“India”)

and the Russian Federation (“Russia”).

These investigations have been initiated pursuant to Canadian trade laws that provide

for the application of duties against unfairly traded products. The CBSA will now

determine whether imports of steel plate from India and Russia have been dumped into

Canada and/or have benefitted from countervailable subsidies. The Canadian

International Trade Tribunal (“CITT”) will conduct a parallel inquiry to determine whether

these dumped and subsidized imports have caused material injury or threaten to cause

material injury to the Canadian industry.

The investigations initiated today cover hot-rolled carbon steel plate and high-strength

low-alloy steel plate originating in or exported from India and Russia. The investigations

exclude, among other things, steel plate that is used to manufacture pipe and tube, floor

plate and plate that is more than 3 inches thick.

Duties are expected to be imposed on September 8, 2015, however, duties could be

applied retroactively to imports arriving after June 10, 2015. CBSA is expected to issue

its preliminary determination on September 8, 2015 and its final determination within 90

days thereafter. As part of its separate inquiry into material injury, the CITT will issue

their preliminary decision on August 10, 2015. A public hearing will follow in December

2015 and CITT will issue its final decision in early 2016. If the CBSA determines that

there has been dumping and/or subsidization and the CITT determines that this has

caused or is threatening to cause material injury to the domestic industry, final duties will

be put in place for an initial period of five years.

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