WTO Appellate Body Affirms Decision That Chinese Duties On Electrical Steel Violated China's WTO Obligations

 WTO Appellate Body Affirms Decision That Chinese Duties On Electrical Steel
                       Violated China's WTO Obligations

PR Newswire

WEST CHESTER, Ohio, Oct. 18, 2012

WEST CHESTER, Ohio, Oct.18,2012 /PRNewswire/ --AK Steel (NYSE: AKS)
commends the U.S. Trade Representative for successfully defending China's
appeal of a World Trade Organization (WTO) panel decision that China had no
legal basis to impose antidumping and countervailing duties on imports of
grain oriented electrical steel (GOES) from the United States beginning in
December 2009.

"The WTO's Appellate Body has affirmed 100 percent of the panel's findings
that China's Ministry of Commerce had no justification to impose duties on AK
Steel products. It is now firmly established that China's case was contrary
to the WTO rules from the beginning and should never have been pursued," said
James L. Wainscott, Chairman, President and CEO of AK Steel. Mr. Wainscott
added, "AK Steel is very grateful to United States Trade Representative Ron
Kirk and his staff for this excellent defense of the rights of U.S.
manufacturers and U.S. workers. We are pleased that China at this point has
no further avenue for appeals."

In December 2009, China's Ministry of Commerce (MOFCOM) imposed duties on
imported electrical steel products. AK Steel is one of the largest and most
technologically-advanced global producers of GOES, which are helping to meet
the world's growing demand for efficient electricity generation, transmission
and distribution. The tariffs total approximately 19.5 percent against AK
Steel. The United States requested consultations with the Government of China
in September 2010, beginning the WTO dispute settlement process. On June 15,
2012, a dispute settlement panel ruled that China violated numerous procedural
and substantive rules for imposing antidumping and countervailing duties. AK
Steel urges the U.S. Trade Representative to insist on China's prompt
compliance with the WTO's ruling by rescinding the tariffs within a reasonable
period of time. The existing tariffs will remain in effect pending China's
implementation of the ruling.

AK Steel
AK Steel produces flat-rolled carbon, stainless and electrical steels,
primarily for automotive, infrastructure and manufacturing, construction and
electrical power generation and distribution markets. The company employs
about 6,200 men and women in Middletown, Mansfield, Coshocton and Zanesville,
Ohio; Butler, Pennsylvania; Ashland, Kentucky; Rockport, Indiana; and its
corporate headquarters in West Chester, Ohio. Additional information about AK
Steel is available on the company's web site at www.aksteel.com.

AK Tube LLC, a wholly-owned subsidiary of AK Steel, employs about 300 men and
women in plants in Walbridge, Ohio and Columbus, Indiana. AK Tube produces
carbon and stainless electric resistance welded (ERW) tubular steel products
for truck, automotive and other markets. Additional information about AK Tube
LLC is available on its web site at www.aktube.com.

AK Coal Resources, Inc., another wholly-owned subsidiary of AK Steel, owns or
leases metallurgical coal reserves in Somerset County, Pennsylvania. AK Steel
also owns 49.9% of Magnetation LLC, a joint venture headquartered in Grand
Rapids, Minnesota, which produces iron ore concentrate from previously mined
ore reserves.

SOURCE AK Steel

Website: http://www.aksteel.com
Contact: Media, Barry L. Racey, Director, Government and Public Relations,
+1-513-425-2749, or Investors, Albert E. Ferrara, Jr., Senior Vice President,
Corporate Strategy and Investor Relations, +1-513-425-2888
 
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