U.S. to continue probe of pipe imports from S. Korea, Turkey

KG DongbuSteel

26/11/2014 17:37

WASHINGTON, Nov 26 (Reuters) - U.S. trade officials voted on 
Wednesday to continue investigations into imports of line pipe 
from South Korea and Turkey, which could end in tariffs on the 
products. 
    The U.S. International Trade Commission found a reasonable 
indication that U.S. producers of the pipe, used for oil or gas 
pipelines, were materially injured by the imports, giving the 
green light for the case to continue. 
    Companies including Northwest Pipe Company  NWPX.O , JMC 
Steel Group  JMCSG.UL  division Energex and Maverick Tube 
Corporation  TENRM.UL  complained that imports from the two 
countries rose 38.9 percent from 2011 to 2012 and forced local 
producers to cut prices. 
    The investigation could have an impact on products produced 
by South Korea's Dongbu Steel  016380.KS , Husteel Co 
 005010.KS , Korea Cast Iron Pipe Industry Co Ltd  000970.KS  
and SamKang M&T Co  100090.KQ , as well as Turkey's Borusan 
Mannesmann Boru Sanayi ve Ticaret AS  BRSAN.IS  and ERBOSAN 
Erciyas Tube Industry and Trade Co  ERBOS.IS . 
    The Department of Commerce is due to make its preliminary 
ruling on whether the goods are unfairly subsidized by Jan. 9 
and whether they are sold below cost in the United States by 
March 25. 
 
 (Reporting by Krista Hughes; Editing by Richard Chang) 
 ((krista.hughes@thomsonreuters.com; +1 202 354 5854; Reuters 
Messaging: krista.hughes.thomsonreuters.com@reuters.net)) 
 
Keywords: USA TRADE/PIPELINE