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03 JUNE 2019 AL CIRCLE

Encore Wire welcomes Commerce Department ruling on aluminium wire and cable imports from China

EDITED BY : HEENA IQBAL 1MINS READ

Encore Wire Corporation, a leading manufacturer of a broad range of electrical building wire, has issued the following statement in response to the U.S. Commerce Department’s preliminary affirmative determination in the antidumping (AD) investigation on imports of aluminium wire and cable from China.

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Daniel Jones, Chairman, President, and Chief Executive Officer of Encore Wire Corporation said: “Today the U.S. Commerce Department issued a preliminary ruling that Chinese aluminium building wire producers have been illegally dumping their product in the United States. Encore welcomes this development and will continue to support the U.S. Government’s antidumping and countervailing duty (CVD) investigations because we believe that these illegal trade practices have undermined our investments in aluminium wire production, which is an important complement to our market-leading copper building wire business.”

U.S. importers of aluminium building wire from China will pay AD cash deposits at rates ranging from 58.36 percent to 63.32 percent. These amounts are in addition to the applicable CVD deposit rates, which range from 11.57 percent to 164.16 percent, Encore Wire said.

The Commerce Department is scheduled to announce the final determinations by the end of 2019.

Encore Wire Corporation manufactures products for interior wiring in commercial and industrial buildings, homes, apartments, and manufactured housing.


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EDITED BY : HEENA IQBAL 1MINS READ

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