Commerce Department launches investigation of dumped steel pipe.
Earlier this week, the U.S. Commerce Department on Tuesday launched an investigation into steel pipe from South Korea, India, and seven other countries. U.S. steel producers, including U.S. Steel, have argued that the countries named in the investigation are selling pipe at unfairly low prices in the United States.
The steel pipe being investigated is called "oil country tubular goods" (OCTG) and is used in natural gas production. Imports of OCTG pipe from the nine countries totaled nearly $1.8 billion in 2012, more than double their total in 2010.
The latest case targets South Korea, which exported about $831 million worth of the pipe to the United States last year, as well as India, Vietnam, the Philippines, Saudi Arabia, Taiwan, Thailand, Turkey and Ukraine.
U.S. producers are asking for anti-dumping duties as high as 240 percent on India, 158 percent on South Korea, 118 percent on Thailand and 111 percent on Vietnam to offset what they say is below market pricing, and lesser but still hefty duties on the other five countries.
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