Trade Cases
Commerce Raises Antidumping Duties on Korean OCTG
Written by Sandy Williams
April 13, 2017
Antidumping duties on oil and gas drilling pipes from South Korea were increased on Tuesday after an administrative review by Commerce. Duties were raise to a range of 2.76 – 24.92 percent from previously assigned duties of 4 – 6.5 percent.
New provisions under the Trade Preferences Extension Act of 2015 allow Commerce to consider market situations in dumping investigations that include subsidization of raw materials used in the making of steel. Tuesday’s decision included evaluation of price distortion of hot rolled steel caused by electricity subsidies.
The announcement of by Secretary of Commerce Wilbur Ross is significant because it is the first time the Department has exercised its authority under Section 504 of the Act.
“There is fair and unfair trade, and the distinction is not very hard to make,” said Secretary Ross. “We will not stand for the distortions in foreign markets being used against U.S. businesses. The Trump Administration will continue to employ all of the tools provided under the law to take swift action against harmful trade practices from foreign nations attempting to take advantage of our markets, workers, and businesses.”
During the period covered by the administrative review (July 2014 to August 2015), OCTG imports from Korea were valued at an estimated $1.1 billion, said Commerce, accounting for nearly 25 percent of all U.S. imports of OCTG.
The revised antidumping duties will be 24.92 percent on OCTG imports from Nexteel, 2.76 percent on SeAH Steel and 13.84 percent on Hyundai Steel and other South Korean steelmakers.
Sandy Williams
Read more from Sandy WilliamsLatest in Trade Cases
Steel industry groups urge House action on LTPF 2.0
Six steel industry organizations have urged House Speaker Mike Johnson to include the Leveling the Playing Field 2.0 Act in any proposed package of legislation against China’s "unfair" trade practices.
CRU: Poor steel margins continue to push down raw material prices
Both iron ore and coking coal prices fell this week because of resistance from buyers. Iron ore prices have continued to fall throughout the past week, following sharp declines in steel prices in China, given no new policy announcement from the ‘Third Plenum’ meeting.
CRU: Imports cause concern in India and Vietnam
High levels of steel imports, especially from China, in recent months are worrying steel makers in India and Vietnam.
Price: The new greenwashing – subsidies to bail out obsolete, excess capacity
The United Kingdom and other countries are using the “green” label to subsidize bailouts of obsolete, inefficient, and excess capacity that should exit the market. US steelmakers have invested billions of dollars in technologies that curb greenhouse gas output. These investments have been market-based and led by EAF producers such as Nucor, Steel Dynamics, and CMC.
AISI, AISC, University of Massachusetts get ~$6.4M EPA grant
The American Iron and Steel Institute (AISI), American Institute of Steel Construction (AISC), and the University of Massachusetts at Amherst have received a grant to enhance emissions reporting for steel construction projects.