The US Department of Commerce has amended the antidumping (AD) margin for Venus Wire Industries, an Indian exporter of stainless steel bar to 16.48pc.
In a previous order on Nov 24, Commerce had assigned a weighted-average AD margin of 17.24pc to Venus Wire and its subsidiaries, Hindustan Inox, Precision Metals, and Sieves Manufacturers, considering that they made sales at less-than-fair-value within the US during the period, February 1, 2018, through January 31, 2019.
However, in the amended final results published on Wednesday, Commerce said that the direct material costs of the exporters were incorrectly calculated due to a ministerial error, leading to larger margins. Thus, the agency has now corrected the AD duty levied on stainless steel bars from the concerned exporters.