REUTERS - A group of steel pipe makers in the United States has urged the U.S. International Trade Commission to investigate what they say is a flood of unfairly traded products from several countries, mainly in Asia.

The petition, filed late on Tuesday on behalf of companies including U.S. Steel Corp (X.N: Quote, Profile, Research), asked the commission to consider anti-dumping duties on imports of certain steel pipe products used in the oil and gas industry. (link.reuters.com/xud49t)

It cited imports from India, South Korea, the Philippines, Saudi Arabia, Taiwan, Thailand, Turkey, Ukraine and Vietnam. In addition to the anti-dumping investigation, the petitioners requested countervailing duties on pipes from India and Turkey.

Shares in Europe-based pipemakersTenaris and Vallourec (VLLP.PA: Quote, Profile, Research) rose about 6 percent and 3 percent respectively on Wednesday. Traders cited the anti-dumping petition as the reason for the rise.

In March, U.S. steel companies urged Congress and the White House to take action against steel imported from China, partly by reforming trade laws to make it easier to win import protection.

China launched its own investigation in May into the alleged dumping of seamless steel tubes and pipes by companies from the United States, Europe and Japan. The Ministry of Commerce did not name the companies under investigation.

Wed, Jul 3 2013

By Robin Paxton;

Editing by SaumyadebChakrabarty

Source: reuters.com