Baosteel Group, which owns Baoshan Iron and Steel Co Ltd, China's largest and most advancedintegrated steel manufacturer, has said it will defend its legal rights in accordance withinternational regulations and laws in the case relating to United States Steel Corporation'scomplaint against Baosteel.
On April 26, US Steel Corp filed an application against Baosteel and other Chinese steelmakers under Section 337 of the US Tariff Act of 1930, which seeks to bar import of Chinesecarbon and alloy steel products.
US Steel Corp alleged that 40 Chinese companies, including Baoshan, have exported steelproducts to the US in violation of Section 337. It also alleged a conspiracy by the Chinese steelcompanies to control prices, misappropriation of trade secrets and mis-stating the origin ofproducts, which the US International Trade Commission launched an investigation into the caselast Thursday.