Mid Continent Steel & Wire Files Anti-Dumping Lawsuit
To all our valued customers:
On May 29th, 2014, Mid Continent Steel & Wire filed an antidumping lawsuit with the Department of Commerce requesting tariffs be applied to fasteners imported from seven additional countries; India, the Republic of Korea, Malaysia, the Sultanate of Oman, Taiwan, the Republic of Turkey, and the Socialist Republic of Vietnam. Antidumping tariffs already exist for China (2008) and Dubai (2012). The range of duties Mid Continent is requesting is between 35.49% and 543.25%.
Although we do not yet know the ramifications of this latest petition, we do feel these actions will cause prices to rise and supply to tighten over the next several months. Packaging Incorporated is committed to our customers and maintaining a consistent supply of quality fasteners. We feel transparency and communication is of utmost importance and we will diligently work to keep you abreast of the situation as it unfolds.
Please refer to the press release on our homepage under resources.