(MENAFN- GlobeNewsWire - Nasdaq) L'ORIGNAL, Ontario, Feb. 09, 2024 (GLOBE NEWSWIRE) -- Ivaco Rolling Mills, a leading Canadian steel rod producer, has filed an anti-dumping complaint against imports of wire rod originating in or exported from China, Egypt, and Vietnam into the Canadian market.
The filing of this case is in response to concerns regarding potential unfair trade practices, specifically dumping of these products into the Canadian market, at prices below their fair market value.
"It is important for Canadian industries that unfair trade practices be investigated and addressed to ensure a level playing field for all participants in the Canadian domestic market," said Stéphane Oehrli, President of Ivaco Rolling Mills. "This action is an essential step in safeguarding the long-term viability of the domestic Canadian wire rod producers, their assets, and the job security of our collective employees.”
Canadian steel production is ranked amongst the lowest carbon intensity in the world, so replacing this domestic wire rod supply with unfairly traded imported steel wire rod, with carbon intensity production levels multiple times higher than those from a Canadian producer, and then shipped long distances, conflicts with the Canadian government's policy to promote and develop 'a healthy environment and a healthy economy'.
About Ivaco Rolling Mills:
Ivaco Rolling Mills (IRM) manufacturing facility, located in L'Orignal (ON), employs more than 615 dedicated workers, and can produce up to 900,000 tons of wire rod annually. IRM operates a mini-mill steel plant that produces steel billets, and a rolling mill operation that converts billets into various wire rod and rebar in coils products. Vertically integrated with Infasco and Sivaco sister companies, IRM offers a wide variety of steel grades and wire rod dimensions for sophisticated cold heading, high carbon, welding, and industrial quality applications. Ivaco Rolling Mills' products are engineered to endure the most demanding applications in the industry and are recognized for their high quality and reliability.
For media inquiries, please contact:
Frédéric Perron,
Director of Marketing and Business Development
Canada Metal Processing Group, part of The Heico Companies
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