US sets steep duties on China seamless steel pipe

16/09/2010 12:00 - 518 Views

WASHINGTON, Sept 13 (Reuters) - The U.S. Commerce Department on Monday announced steep final anti-dumping and countervailing duties on hundreds of millions of dollars of seamless steel pipe from China.
The decision is a victory for the United States Steel Corp (X.N: Quote, Profile, Research, Stock Buzz), V&M Star LP, TMK IPSCO and the United Steelworkers union, who filed a petition asking the Commerce Department for import relief.
The Commerce Department said it was imposing final anti-dumping duties ranging from 48.99 percent to 98.74 percent to offset below-market pricing by Chinese exporters.
It also said it would levy final countervailing duties of 13.66 percent to 53.65 percent to offset Chinese government subsidies.
The United States imported $182.3 million of the seamless steel pipe from China in 2009, down from $487.2 million in 2008, the Commerce Department said.

Mon, Sep 13 2010 3:36pm EDT
Reporting by Doug Palmer; Editing by Stacey Joyce
Source: reuters.com