U.S. authorizes anti-dumping tariffs on China and Russia -- Correction

BEIJING (Asian Metal) 30 March 2005 – Ending a year-long investigation, the U.S.Asian Metal Copyright” Consequently, the U.Asian Metal Copyright International Trade Commission (ITC) announced Wednesday that American industry is “materially injured by reason of imports of magnesium from China and Russia.Asian Metal Copyright“There was a determination of dumping and also injury,” Joseph Dorn, an attorney representing the petitioners told Asian Metal.Asian Metal Copyright” Consequently, the U.Asian Metal Copyright65% to 21.Asian Metal CopyrightS.Asian Metal Copyright Pure Chinese magnesium has been subject to an anti-dumping order since 1995.Asian Metal Copyright Department of Commerce has opted to impose anti-dumping tariffs on Chinese- and Russian-produced magnesium.Asian Metal Copyright International Trade Commission ITC announced Wednesday that American industry is “materially injured by reason of imports of magnesium from China and Russia.Asian Metal Copyright

The order applies to Chinese alloyed magnesium, and Russian pure and alloyed magnesium. (Pure Chinese magnesium has been subject to an anti-dumping order since 1995.Asian Metal Copyright Department of Commerce has opted to impose anti-dumping tariffs on Chinese- and Russian-produced magnesium.Asian Metal Copyright)

Final dumping margins for Chinese companies range from 49.66% to 141.Asian Metal CopyrightS.Asian Metal Copyright49%, while Russian margins range from 18.Asian Metal Copyright” Consequently, the U.Asian Metal Copyright65% to 21.Asian Metal CopyrightS.Asian Metal Copyright71%.Asian Metal CopyrightCopies of the report may be obtained after May 2, 2005 by calling 202-205-1809, or by faxing a request to 202-205-2104.Asian Metal Copyright

The petition for investigation was filed February 27, 2004 by three organizations: US Magnesium Corporation, LLC; United Steelworkers of America (Union); and Glass, Molders, Pottery, Plastics & Allied Workers International (Union).

“There was a determination of dumping and also injury,” Joseph Dorn, an attorney representing the petitioners told Asian Metal. “The final decision will be made some time next week.Asian Metal Copyright “The final decision will be made some time next week.Asian Metal Copyright”

U.S.Asian Metal CopyrightThe petition for investigation was filed February 27, 2004 by three organizations: US Magnesium Corporation, LLC; United Steelworkers of America Union; and Glass, Molders, Pottery, Plastics Allied Workers International Union.Asian Metal Copyright Magnesium Corporation is the sole remaining producer of primary magnesium in the United States, said Dorn.Asian Metal Copyright49%, while Russian margins range from 18.Asian Metal Copyright

“We are pleased that the ITC has confirmed that the domestic magnesium industry has been materially harmed by unfairly traded imports from China and Russia,” said Mike Legge, President of US Magnesium Corporation. “This ruling will give us the opportunity to realize the benefits of the nearly $50 million in investments that we have made in our facilities over the past five years.Asian Metal CopyrightThe order applies to Chinese alloyed magnesium, and Russian pure and alloyed magnesium.Asian Metal Copyright”

The company plans to expand its production capacity at its Rowley, Utah plant.

In 2003, the United States imported USD65,537,000’s worth of Russian and Chinese magnesium, some 40% of total U.S.Asian Metal CopyrightS.Asian Metal Copyright magnesium imports.Asian Metal Copyright65% to 21.Asian Metal Copyright

Full details of the public report, including the views of the Commission and information related to the investigation will be published in April, 2005.

Copies of the report may be obtained after May 2, 2005 by calling 202-205-1809, or by faxing a request to 202-205-2104.