The Commerce Department will require cash deposits of estimated antidumping duties on heavy-walled rectangular welded carbon steel pipes and tubes from Mexico, South Korea and Turkey, it said in an Feb. 23 fact sheet announcing its preliminary AD duty determinations (here). Rates range from 3.99% to 16.31% for India, 2.53% to 3.81% for South Korea, and zero to 14.48% for Turkey. Commerce may adjust these rates for export subsidies found in its concurrent countervailing duty investigations. Cash deposit requirements take effect upon publication of the preliminary determination in the Federal Register.
The Commerce Department issued Federal Register notices on its recently initiated antidumping and countervailing duty investigations on truck and bus tires from China (A-570-040/C-570-041). The agency will determine whether imports of Chinese truck and bus tires are being sold in the U.S. at less than fair value or illegally subsidized. The period under investigation in the CV duty case is Jan. 1, 2015, through Dec. 31, 2015. In the AD duty investigation, the period of investigation is July 1, 2015 through Dec. 31, 2015.
Consumer intentions to buy TV sets fell slightly in February from January, according to preliminary data in the Conference Board’s monthly survey. Of 5,000 homes Nielsen canvassed for the Conference Board through Feb. 11, 12.9 percent of consumers said they plan to buy a TV set in the next six months, down from 13.5 percent in January and 13.1 percent in December, and down sharply from 14.4 percent in February 2015, the Conference Board said. The Consumer Confidence Index, which increased moderately in January, declined in February because “consumers’ assessment of current conditions weakened, primarily due to a less favorable assessment of business conditions,” the Conference Board said in a Tuesday announcement. “Consumers’ short-term outlook grew more pessimistic, with consumers expressing greater apprehension about business conditions, their personal financial situation, and to a lesser degree, labor market prospects,” it said. “Continued turmoil in the financial markets may be rattling consumers, but their assessment of current conditions suggests the economy will continue to expand at a moderate pace in the near-term.”
Network services price competition is proving to be a major hurdle for Intelsat, though the satellite company hopes its Epic high-throughput satellite constellation starts offsetting those declines, company officials said Monday as they announced Q4 results. The company said preliminary revenue for 2015 was $2.35 billion, while 2016 is expected to bring revenue of $2.14 billion-$2.2 billion, with the declines coming from a number of network services contract renewals, CEO Stephen Spengler said on a conference call. The company's first high-throughput Epic satellite -- Intelsat 29e -- launched in January, with three more set to launch later this year, he said. The company signed nine Epic agreements in Q4, most of them with current customers transitioning from current satellites to the Epic constellation, Spengler said. But, he said that "we do see Epic as not just a transitionary platform but a growth platform." Spengler said the company is developing new platforms to take advantage of the high-throughput capabilities, pointing to Intelsat's sponsorship of a cross-country drive of a Kymeta-connected car (see 1512160011) that will be on display at Satellite 2016 in March at the Gaylord National Convention Center in National Harbor, Maryland. Applications like automotive connectivity and IoT are "where we can create value for our customers," Spengler said. Intelsat stock closed Monday at $2.72, down 9.6 percent.
Network services price competition is proving to be a major hurdle for Intelsat, though the satellite company hopes its Epic high-throughput satellite constellation starts offsetting those declines, company officials said Monday as they announced Q4 results. The company said preliminary revenue for 2015 was $2.35 billion, while 2016 is expected to bring revenue of $2.14 billion-$2.2 billion, with the declines coming from a number of network services contract renewals, CEO Stephen Spengler said on a conference call. The company's first high-throughput Epic satellite -- Intelsat 29e -- launched in January, with three more set to launch later this year, he said. The company signed nine Epic agreements in Q4, most of them with current customers transitioning from current satellites to the Epic constellation, Spengler said. But, he said that "we do see Epic as not just a transitionary platform but a growth platform." Spengler said the company is developing new platforms to take advantage of the high-throughput capabilities, pointing to Intelsat's sponsorship of a cross-country drive of a Kymeta-connected car (see 1512160011) that will be on display at Satellite 2016 in March at the Gaylord National Convention Center in National Harbor, Maryland. Applications like automotive connectivity and IoT are "where we can create value for our customers," Spengler said. Intelsat stock closed Monday at $2.72, down 9.6 percent.
The Commerce Department issued the final results of the countervailing duty administrative review on pasta from Italy (C-475-819) (here). These final results will be used to set final assessments of CV duties on importers for subject merchandise entered in calendar year 2013.
The International Trade Commission published notices in the Feb. 22 Federal Register on the following AD/CV injury, Section 337 patent, and other trade proceedings (any notices that warrant a more detailed summary will be in another ITT article):
The Commerce Department is beginning antidumping and countervailing duty investigations on imports of truck and bus tires from China, it said in a fact sheet released Feb. 19 (here). A U.S. manufacturer requested the investigations on Jan. 29 (see 1602010020). The International Trade Commission is scheduled to make its preliminary injury determination by March 14. These AD/CV duty investigations will only continue if the ITC finds injury. ITT will provide more details upon publication of the initiation notice in the Federal Register.
The Commerce Department issued Federal Register notices on its recently initiated antidumping and countervailing duty investigations on amorphous silica fabric from China (A-570-038/C-570-039). The agency will determine whether imports of Chinese amorphous silica fabric, which is used in industrial applications to make welding curtains, welding blankets, welding pads, and fire blankets, are being sold in the U.S. at less than fair value or illegally subsidized. The period under investigation in the CV duty case is Jan. 1, 2015, through Dec. 31, 2015. In the AD duty investigation, it's July 1, 2015 through Dec. 31, 2015.
The Commerce Department issued its final determination in the antidumping duty investigation on silicomanganese from Australia (A-602-808) (here). The agency slightly increased cash deposit rates for all exporters of subject merchandise, effective Feb. 22.