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U.S. slaps anti-dumping duties on S. Korean steel pipes

All News 12:43 July 16, 2016

SEOUL, July 16 (Yonhap) -- The United States has decided to slap anti-dumping duties on steel pipes manufactured by South Korean companies, industry sources said Saturday.

Under the plan, the U.S. commerce department will impose anti-dumping duties ranging from 2.34 percent to 3.82 percent on heavy walled rectangular welded carbon steel pipes and tubes made in South Korea.

Last year, South Korea shipped US$42.2 million worth of such goods to the U.S., implying the decision will have only a limited impact on local steelmakers. The product is usually made by small companies, and thus the move will not affect major firms like POSCO, industry watchers said.

The U.S. commerce department has been investigating possible unfair undercutting of prices since July last year with the United States International Trade Commission (USITC) responsible for the probe.

The latest move will be finalized following the USITC's decision slated for Aug. 29.

colin@yna.co.kr
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