ITC removes some dumping tariffs
By Tom Stundza -- Purchasing, 4/25/2007 1:37:00 PM
The U.S. International Trade Commission (ITC) has removed duties for alleged dumping of certain seamless carbon and alloy steel standard, line and pressure pipe from Argentina and Brazil. However, the duties will continue for the same products supplied from Germany.
Domestic steelmakers are unhappy with the ITC removal of even some of the duties but “it’s difficult to argue injury or even potential injury when the domestic producers are reporting record or near record margins and return on capital,” writes analyst Randy Cousins at BMO Capital Markets in Toronto.
“We believe the removal of these barriers to trade could result in greater offshore competition for seamless product,” notes Cousins. IPSCO recently entered the seamless business with its purchase of NS Group, he says, adding that there is a pending review of oil country tubular product supply expansions from a variety of sources. “The ITC decision may be viewed as a future indicator,” Cousins adds.
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