Steel Dynamics Applauds Unanimous Affirmative ITC Injury Vote in 14 Cases on Unfairly Traded Corrosion Resistant Steel Imports

Rhea-AI Summary

Steel Dynamics (NASDAQ:STLD) has received a favorable unanimous decision from the International Trade Commission (ITC) regarding unfair trade practices in Corrosion-Resistant Steel (CORE) imports. The ruling affects 10 countries and involves both antidumping and countervailing duty cases.

The decision follows a significant surge in CORE imports, which increased from 2.49 million tons in 2023 to 3.64 million tons in 2024, representing a nearly 60% increase in the first half of 2024. After preliminary duties were imposed in February 2025, imports declined to 1.28 million tons in the first eight months of 2025.

Positive

• None.

Negative

• Previous 60% surge in imports had taken significant market share from U.S. steel industry
• Company faced unfair competition from 10 different countries affecting core business

Insights

Trade Policy Expert

ITC's final duties on CORE imports from 10 countries benefit STLD by protecting its market position after addressing a 60% import surge.

The International Trade Commission's unanimous affirmative determination on corrosion-resistant steel (CORE) imports represents a significant victory for Steel Dynamics. This ruling confirms that imports from ten countries have materially injured the domestic steel industry, validating Steel Dynamics' trade complaint filed in September 2024.

The data reveals the magnitude of the trade problem: CORE imports from these countries jumped nearly 60% in the first half of 2024, increasing from 2.49 million tons in 2023 to 3.64 million tons in 2024. This surge directly threatened U.S. manufacturers' market share. The preliminary duties imposed in February 2025 have already shown effectiveness, with imports dropping to 1.28 million tons in the first eight months of 2025.

What makes this ruling particularly consequential is its comprehensive scope, covering ten antidumping cases and four countervailing duty cases. The countries affected represent major steel producers across multiple continents: Australia, Brazil, Canada, Mexico, Netherlands, South Africa, Taiwan, Turkey, UAE, and Vietnam.

For Steel Dynamics specifically, this determination protects their substantial capital investments in CORE production facilities. The company has positioned itself as the largest producer of CORE, Galvalume, and painted steel in the U.S., making this favorable trade ruling essential for defending their market leadership and preserving manufacturing jobs.

FORT WAYNE, Ind., Sept. 26, 2025 /PRNewswire/ -- Steel Dynamics, Inc. (NASDAQ/GS: STLD) applauds the International Trade Commission (ITC) on the unanimous affirmative final determination that imports of Corrosion-Resistant Steel (CORE) from ten countries injured the U.S. steel industry. This decision paves the way for the imposition of final duties in ten antidumping cases and four countervailing duty cases at rates determined by the Department of Commerce in August 2025 and publicly available on the ITC website, www.trade.gov/final-determinations-antidumping-and-countervailing-duty-investigations-corrosion-resistant-steel.

"In the first half of 2024, imports of CORE from these 10 countries surged nearly 60%, taking much needed market share from the U.S. steel industry and necessitating the filing of these cases in September 2024. On behalf of all of my Steel Dynamics teammates, I wish to thank the Department of Commerce and the International Trade Commission for their hard work in providing relief from unfair trade to this vital U.S. industry," said Barry T. Schneider, President and Chief Operating Officer.

The ten countries involved in the cases were Australia, Brazil, Canada, Mexico, Netherlands, South Africa, Taiwan, Turkey, United Arab Emirates, and Vietnam. Imports from these countries increased from 2.49 million tons in 2023 to 3.64 million tons in 2024. After preliminary duties were imposed in February 2025, they have declined to 1.28 million tons in the first eight months of 2025.

"Steel Dynamics has invested billions in our CORE business in the last several years, and we believe we are the largest producer of CORE, Galvalume, and painted steel in the United States. Restoring fair trade was necessary for the livelihood of our team members," concluded Schneider.

About Steel Dynamics, Inc.

Steel Dynamics is a leading industrial metals solutions company, with facilities located throughout the United States, and in Mexico. The company operates using a circular manufacturing model, producing lower-carbon-emission, quality products with recycled scrap as the primary input. Steel Dynamics is one of the largest domestic steel producers and metal recyclers in North America, combined with a meaningful downstream steel fabrication platform. The company is also currently investing in aluminum operations to further diversify its product offerings, with plans to supply aluminum flat rolled products with high recycled content to the countercyclical sustainable beverage can industry, in addition to the automotive and industrial sectors.  Steel Dynamics is committed to operating with the highest integrity and to being the safest, most efficient producer of high-quality, broadly diversified, value-added metal products.

Forward-Looking Statements

This press release contains some predictive statements about future events, including statements related to conditions in domestic or global economies, conditions in steel, aluminum, and recycled metals market places, Steel Dynamics' revenues, costs of purchased materials, future profitability and earnings, and the operation of new, existing or planned facilities. These statements, which we generally precede or accompany by such typical conditional words as "anticipate", "intend", "believe", "estimate", "plan", "seek", "project", or "expect", or by the words "may", "will", or "should", are intended to be made as "forward-looking", subject to many risks and uncertainties, within the safe harbor protections of the Private Securities Litigation Reform Act of 1995. These statements speak only as of this date and are based upon information and assumptions, which we consider reasonable as of this date, concerning our businesses and the environments in which they operate. Such predictive statements are not guarantees of future performance, and we undertake no duty to update or revise any such statements. Some factors that could cause such forward-looking statements to turn out differently than anticipated include: (1) domestic and global economic factors; (2) global steelmaking overcapacity and imports of steel, together with increased scrap prices; (3) pandemics, epidemics, widespread illness or other health issues; (4) the cyclical nature of the steel industry and the industries we serve; (5) volatility and major fluctuations in prices and availability of scrap metal, scrap substitutes and supplies, and our potential inability to pass higher costs on to our customers; (6) cost and availability of electricity, natural gas, oil, and other energy resources are subject to volatile market conditions; (7) increased environmental, greenhouse gas emissions and sustainability considerations from our customers and investors or related regulations; (8) compliance with and changes in environmental and remediation requirements; (9) significant price and other forms of competition from other steel and aluminum producers, scrap processors and alternative materials; (10) availability of an adequate source of supply of scrap for our metals recycling operations; (11) cybersecurity threats and risks to the security of our sensitive data and information technology; (12) the implementation of our growth strategy; (13) our ability to retain, develop and attract key personnel; (14) litigation and legal compliance; (15) unexpected equipment downtime or shutdowns; (16) governmental agencies may refuse to grant or renew some of our licenses and permits; (17) our senior unsecured credit facility contains, and any future financing agreements may contain, restrictive covenants that may limit our flexibility; and (18) the impacts of impairment charges.

More specifically, we refer you to our more detailed explanation of these and other factors and risks that may cause such predictive statements to turn out differently, as set forth in our most recent Annual Report on Form 10-K under the headings Special Note Regarding Forward-Looking Statements and Risk Factors, in our Quarterly Reports on Form 10-Q, or in other reports which we file with the Securities and Exchange Commission. These reports are available publicly on the Securities and Exchange Commission website, www.sec.gov, and on our website, www.steeldynamics.com under "Investors – SEC Filings."

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SOURCE Steel Dynamics, Inc.

FAQ

What was the ITC's decision on Steel Dynamics (STLD) CORE imports case?

The ITC unanimously voted in favor of Steel Dynamics, determining that CORE imports from 10 countries injured the U.S. steel industry, leading to final duties in 10 antidumping and 4 countervailing duty cases.

How much did CORE imports decrease after preliminary duties were imposed on Steel Dynamics competitors?

After preliminary duties were imposed in February 2025, imports declined to 1.28 million tons in the first eight months of 2025, down from 3.64 million tons in 2024.

Which countries are affected by Steel Dynamics CORE import duties?

The duties affect 10 countries: Australia, Brazil, Canada, Mexico, Netherlands, South Africa, Taiwan, Turkey, United Arab Emirates, and Vietnam.

How much did CORE imports increase before Steel Dynamics filed the trade case?

CORE imports from the 10 countries increased by nearly 60% in the first half of 2024, rising from 2.49 million tons in 2023 to 3.64 million tons in 2024.

What is Steel Dynamics' position in the U.S. CORE market?

Steel Dynamics claims to be the largest producer of CORE, Galvalume, and painted steel in the United States, having invested billions in their CORE business in recent years.