Calgon Carbon Corporation (NYSE: CCC) announced that the Department of Commerce (DOC) has determined the amount of antidumping tariffs to be assessed on imports of steam activated carbon from China that entered the United States between April 2, 2011 to March 31, 2012. The average tariff rate is $0.07 per lb. which replaces the average rate of $0.47 per lb. that had been in effect. These announced tariffs may be modified to correct any errors made by the Commerce Department.
Revision of the tariff rates has two effects. First, these new tariffs become the cash deposit rate applied to future imports. Second, if a company deposited less than its final tariff rate on carbons imported during the period of review, it will be required to pay additional duties; conversely, if it deposited more than the final tariff, it will receive a refund.
Calgon Carbon was assigned the average tariff rate of $0.07 as a result of DOC antidumping rules that allow certain industry participants to request a review of a specific Chinese exporter. An industry participant had requested a review of Calgon Carbon’s Chinese exporting operation for the review period. The DOC chose to assign Calgon Carbon the average tariff rate instead of specifically examining the company’s Chinese export sales during the period. This practice is acceptable if a company under review had a modest volume of Chinese export sales for the review period and cooperates with the DOC during a review.
Randy Dearth, Calgon Carbon’s President and Chief Executive Officer, commented, “We believe that these results show that the antidumping order continues to be effective. The revised antidumping tariffs, which are lower than the previous period of review, demonstrate that activated carbon from China was more fairly traded in the U.S. during the most recent review period. This is a positive sign for the industry. As for Calgon Carbon’s assigned tariff rate, it should have a minimal effect on our business.”
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