August 16 - 2001

Earlier today the U.S. International Trade Commission ("Commission") made its final determinations in the injury phase of the antidumping ("AD")

investigations of hot-rolled carbon steel flat products from Argentina and South Africa and the countervailing duty ("CVD") investigation of hot-rolled products from Argentina. By a vote of 6 to 0, the Commission made a final affirmative determination of injury.

Accordingly, the U.S. Department of Commerce ("Department") will publish formal antidumping and countervailing duty orders with respect to these

countries. As the result of the final determinations already announced, the dumping duty deposit rates will be as follows:

Country/Producer Dumping Duty Deposit Rate

Argentina

Siderar Saic 44.59 percent

All Others 40.60 percent

South Africa

Highveld Steel 9.28 percent

Iscor Ltd./Saldanha 9.28 percent

All Others 9.28 percent

In the CVD investigation of hot-rolled steel from Argentina, the Department has calculated the following final countervailing duty deposit rates:

Argentina

Siderar Saic 41.69 percent

All Others 41.69 percent

The Department must also complete the remaining AD investigations of India, Indonesia, Kazakhstan, the Netherlands, the People's Republic of China, Romania, Taiwan, Thailand, and the Ukraine and the CVD investigations of India, Indonesia, South Africa, and Thailand. The due dates in these other investigations were extended by the Department; these final determinations will be announced no later than September 18, 2001. When these investigations have been completed, the Commission will make its final injury determinations. Based on today's results, it appears likely that the Commission will also make affirmative injury determinations regarding these countries. If that is the case, then the Department will publish formal antidumping and countervailing duty orders regarding these countries.