S. Korean firms believed to be dumping steel pipe in U.S.: ITC

An independent U.S. trade panel said Friday that there is evidence that South Korean manufacturers are selling steel pipe used by oil and natural gas producers at unfairly low prices in the U.S. market.

The U.S. International Trade Commission said it determined that "there is a reasonable indication that a U.S. industry is materially injured by reason of imports of certain oil country tubular goods" from South Korea, India, the Philippines, Saudi Arabia, Taiwan, Thailand, Turkey, Ukraine and Vietnam.

Its assessment gives the green light for the U.S. Commerce Department to continue an investigation into allegations that firms from the nine nations are dumping their products in the U.S.

Indian and Turkish companies are also allegedly subsidized by their governments.   

The Commerce Department is scheduled to deliver a preliminary ruling on countervailing duties on or about Sept. 25 and anti-dumping duties on or about Dec. 9, with a final decision due next year.

South Korea exported some $831 million worth of pipe to the U.S. in 2012. (YONHAP)