Chinese steel pipe producers sliding in overseas markets

19/10/2009 12:00 - 567 Views

China's seamless steel pipe producers have lost ground in overseas markets after the EU decided to slap a 5-year anti-dumping tax on them earlier this month. Shortly after that, the US began an inquiry into them which could lead to anti-dumping duties of 100 percent.

Chinese exporters say orders from the US have already dropped to zero. And, they expect no immediate recovery in sales growth for the industry. But it is only in recent years that Chinese producers have been able to squeeze into the hi-end seamless steel pipe section. They soon grabbed half of the world market. A senior official from the country's pipe society said the outlook was grim.

Zhuang Gang, Official, China Steel Construction Society, said, "In previous years, we have had the orders for the first half of the following year. But now, the demand is gone. China's seamless steel pipe exports dropped 41 percent in the first 8 months of this year. But in fact, new orders have dropped even more, by 60 percent. If the US gives a negative ruling, it means an even more gloomy picture for the next several years."

2009-10-15 08:35 BJT

Source: english.cctv.com