US Starts Trade Defense Investigations Against Chinese Steel

05/05/2008 12:00 - 864 Views

BEIJING, Apr 30, 2008 (SinoCast via COMTEX) -- -- US Department of Commerce initiates antidumping (AD) and countervailing duty (CVD) investigations into imports from China of circular welded carbon-quality steel pipe and welded line pipe, the third time for the US launched the two investigations on steel products imports from China since 2007.

A number of US companies and related industry associations filed an application with US International Trade Commission (ITC) on investing the aforesaid steel products. They preliminary estimated the dumping margin of these products stood at 57.45-58.96% and the subsidy margin surpassed 2%.

The US department says that China exported 25,600 tons of above-mentioned steel products worth USD 165 million in 2007. ITC is scheduled to release the result of the AD investigation in June and CVD investigation in September.

Chinese steel products export has been slipping since 2007, thanks to government's effort of curbing the export by adjusting tariffs. Besides, China now exports more steel products to emerging markets like Southeast Asia and Middle East, where the demands are growing at a fast speed.

From www.cnstock.com, Page 1, Tuesday, April 29, 2008 info@SinoCast.Com

Wednesday, April 30, 2008; Posted: 06:03 AM

Source: www.tradingmarkets.com