(Adds reaction from South Korea, U.S. steel industry, details
on case, share prices)
By Elvina Nawaguna
WASHINGTON Aug 22 The United States has
approved anti-dumping duties against South Korea and other
producers of steel pipes for the energy sector, a victory for
domestic producers hoping to benefit from a boom in the U.S.
shale oil and gas industry.
U.S. steel companies lodged a complaint in 2013 as foreign
manufacturers cashed in on soaring U.S. energy infrastructure
demand. Imports doubled last year and accounted for nearly
two-thirds of the domestic market, according to the American
Iron and Steel Institute.
Although subject to appeal, the decision puts the U.S.
Department of Commerce closer to imposing tariffs as high as 118
percent on "oil country tubular goods" (OCTG).
"This was a resounding victory for the domestic
steelmakers," said Phillip Bell, president of the Steel
Manufacturers Association, which represents a number of North
South Korea's OCTG exports to the United States were worth
$818 million in 2013, more than the combined imports of the
other countries involved in the case, according to Commerce
"The major player here is South Korea, at the end of the
day, and we're very happy with the result," Bell added.
The U.S. International Trade Commission (USITC) ruled that
OCTG imports from South Korea, India, Taiwan, Turkey, Ukraine
and Vietnam would be subject to duties, with those from the
Philippines and Thailand exempt.
Saudi Arabia, part of the original complaint, was dropped
from the case this week.
The Commerce Department said in July that imports from South
Korea's Hyundai Hysco would be subject to duties of
15.75 percent, those from Nexteel to 9.89 percent duties and all
other South Korean producers will have a duty of 12.82 percent.