Hunan Gold shares surge after large deposit found in China
The Geological Bureau of Hunan Province said on Thursday that it had detected more than 40 gold veins containing an estimated 300 tons of the precious metal.
The U.S. International Trade Commission said on Thursday it had made a preliminary finding that U.S. producers were being harmed by imports of steel automotive wheels from China.
The decision follows an announcement last month by the U.S. Commerce Department that it had opened an investigation to determine if certain steel wheels from China are dumped in the United States and whether producers in China are receiving unfair subsidies.
The department opened the investigation based on complaints by Accuride Corp and Maxion Wheels Akron LLC. The alleged dumping margins ranged from 12.1 percent to 231.7 percent, and U.S. imports of the products from China in 2017 were estimated to total $388 million, it said.
The ITC finding that U.S. industry is harmed by the imports keeps the investigation alive.
Reporting by Eric Walsh and Makini Brice; Editing by Tim Ahmann and Jeffrey Benkoe.
