WASHINGTON The U.S. Commerce Department on Wednesday said it would slap preliminary duties on imports of welded stainless pressure pipe from India after finding the goods were being dumped in the U.S. market at below market prices.
The preliminary decision came in response to a complaint brought last year by Bristol Metals, a subsidiary of U.S. steel products maker Synalloy Corp (SYNL.O); Outokumpu Stainless Pipe, a subsidiary of Finnish firm Outokumpu (OUT1V.HE); and Felker Brothers Corp and Marcegaglia USA.
The department said it found the products were being dumped at margins of up to 18.9 percent, and that it would tell U.S. customs officials to collect a 16.9 percent cash deposit as the trade case moves forward.
It said would announce its final determination on or about Sept. 17.
In a related countervailing duty case, the department in March issued a preliminary finding that imports of the pipe were also being unfairly subsidized. A final Commerce Department determination in that case is expected by July 18.
(Reporting by Tim Ahmann; Editing by Marguerita Choy)
This story has not been edited by Firstpost staff and is generated by auto-feed.
Published Date: May 05, 2016 02:30 AM | Updated Date: May 05, 2016 02:30 AM