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voda 20 september 2017 16:46

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Steel from Dillinger for the Bøkfjord bridge project

It was no ordinary project: The Bridge over the Bøkfjord, containing 600 tons of special steel from Dillinger, was mostly built in Nordhausen, Germany; the individual parts were transported to Wilhelmshaven and assembled there before they floated to Norway. The trip on the pontoon – a ship similar to a barge – took 18 days to reach the port of Kirkenes.

Source : Strategic Research Institute

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voda 20 september 2017 16:47

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Tokyo Steel to hike steel prices for second month

Reuters reported that Tokyo Steel Manufacturing Co Ltd, Japan’s top electric-arc furnace steelmaker, said that it would raise its product prices for a second month in October due to higher overseas prices and a tight domestic market. The company will boost prices on all its products in October by JPY 3,000 (USD 26.9) per tonne, or by 3.3-5.1%. It increased its product prices in September by up to 5.4%.

Prices for steel bars, including rebar, will increase by JPY 3,000 or 5.1% to JPY 62,000 (USD 555.8) a tonne, while prices for U-shaped steel-sheet piles will rise by JPY 3,000 or 3.3% to JPY 93,000 a tonne.

Tokyo Steel’s MD Mr Kiyoshi Imamura told reporters “Overseas steel markets have been on an upward trend thanks to China’s strong local demand and a continued decline in exports from China. Japan’s local market has been tightening on the back of solid demand.”

Source : Reuters

voda 20 september 2017 16:49

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Portal Steels Inc billet & rebar plant in Carmona approved

The Philippine Star reported that Philippines Board of Investments has approved the P322.7-million steel plant project of Portal Steels Inc in Carmona, Cavite for tax incentives under the manufacturing activity of the Investment Priorities Plan. Portal Steels will produce steel billets and rebars at an annual volume of 48,000 tonnes and 22,800 tonnes, respectively, with commercial operations slated to start in December.

The BOI said around half of the billet production is for commercial sale in support for other rolling mill operations inside and outside the country while the other half is for its own use intended for integrated rolling mill operations.

Production of rebars, meanwhile, is expected to cater to the domestic demand of the infrastructure industry.

“Steel companies stand to benefit in light of the government’s Build Build Build strategy to usher the country in the golden age of infrastructure with infrastructure spending of up to seven percent of the country’s gross domestic product,” BOI managing head Ceferino Rodolfo said.

Rodolfo said the BOI would continue to push for the revitalization of the country’s steel industry, seeing it as not only a critical component for infrastructure but also in achieving inclusive economic growth and sustainable development.

According to the BOI, Portal Steels is embarking on an iron and steel program that aims to primarily attain operational efficiency and achieve the least cost of production.

The firm’s project in Cavite, it said, will be using one of the most modern billet and rebars making technology available to the local industry, making the project capable of producing higher quality steel and more efficiency in terms of production output.

The BOI said raw materials such as scrap metals will all be sourced locally.

Steel billets are freshly made steel which is still in the form of a metal bar or rectangle, while reinforcing bar is a mesh of steel wires used as a tension device in reinforced concrete and reinforcement masonry structures to strengthen and hold the concrete in compression.

Source : The Philippine Star

voda 20 september 2017 16:50

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Vietnam steel manufacturers complain despite anti dumping duty on Chinese imports

VietNamNet Bridge reported that the imposition of an anti-dumping duty on Chinese imports is not expected to help domestic steel manufacturers, unless comprehensive solutions are taken. After a period of temporarily imposing anti-dumping duties on Chinese H-beam steel since October 2016, Minister of Industry and Trade has decided to officially impose a duty on products which have 7216.33.00; 7228.70.10 and 7228.70.90 HS codes. The validity of the anti-dumping duty is five years, or until September 7th 2022.

MOIT (the Ministry of Industry and Trade) said it had found dumping by some Chinese enterprises, which hinders the development of the Vietnamese steel industry.

Many steel manufacturers have had difficulties in recent years and are on the verge of bankruptcy as their products are uncompetitive with low-priced Chinese products.

According to Tang Hong from the Vietnam Foundry and Metallurgy Science and Technology Association, there are big differences in prices between the steel products sourced from China and domestically made products.

Many steel manufacturers have had difficulties in recent years and are on the verge of bankruptcy as their products are uncompetitive with low-priced Chinese products.

China can create one steel tube at the production cost of VND 710,000, while Vietnamese enterprises cannot make products at such a price.

Mr Hong said that “It is very difficult to compete with Chinese products. Consumers have the right to choose cheaper products.”

However, Hong doesn’t think the anti-dumping duty MOIT imposes on Chinese products will help Vietnamese steel manufacturers and the steel industry if comprehensive measures cannot be taken.

He said many enterprises still import low-cost ingot steel from China to laminate steel products domestically.

Source : VietNamNet Bridge

voda 20 september 2017 16:51

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US Steelworkers urge release of Section 232 report

Biz Journals reported that a delegation of steelworkers represented by United Steelworkers International are in Washington, DC this week to urge further action on an investigation into the impacts of foreign imports on the domestic steel industry. The Trump administration has been conducting a so-called Section 232 investigation to determine whether the rise in foreign imports and the decline of the US steel industry constitutes a national security emergency. The investigation began in April but has yet to be completed by the U.S. Department of Commerce.

USW said that steelworkers from Pennsylvania, Kentucky, Ohio and elsewhere are meeting with a bipartisan group of legislators to try to get the report release and action completed. Six workers from the United States Steel Corp Clairton Works and another from Edgar Thomson Works are on the trip, according to a United Steelworkers official.

USW International Vice President Tom Conway in a statement said that "The delay in acting is devastating. Plants are closing, jobs are lost and communities are injured while politicians delay. Now there are rumors that action is being delayed so Congress can focus on tax reform."

Source : Biz Journals

voda 20 september 2017 16:52

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Mughal Steel posts PKR 991million in profit

Mughal Iron and Steel Industries posted a profit of PKR 990.76 million with earnings per share (EPS) of PKR 7.69 for the year ended June 30, 2017, up around 11 percent over the previous financial year. Mughal Steel recorded a profit of Rs893.41 million with EPS of Rs7.1 in the preceding financial year.

The steelmaker, however, witnessed a six percent drop in sales revenue during the last financial year. Sales amounted to PKR 1.94 billion in 2016/17 as compared to PKR 2.06 billion in 2015/16.

Analyst Hamdan Altaf at Taurus Securities Limited said the dent to revenue came from a drop in average sale prices and higher scarp prices.

Though distribution and marketing costs, administrative expenses and other charges escalated during the past financial year, finance cost that dipped around 40 percent supported the bottom-line. Besides, lower taxation also offset the impact of weak sales.

Altaf said the company’s earnings improved four percent quarter-on-quarter to Rs264 million with EPS of Rs1.05 during the last three months of FY2017. Its revenue rose 21 percent QoQ on the back of increase in average selling prices and an expected increase in steel quantity.

Mughal Steel is known as one of quality steel producers, including Agha Steel, Amreli Steel, International Steel and Aisha Steel.

Source : The News

voda 20 september 2017 16:53

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Forum focuses on Indian Steel Industry Roadmap upto 2025

The sixth India Minerals and Metals Forum organized by the Indian Chamber of Commerce (ICC) of Kolkata gets underway in New Delhi today. The Steel Minister Chaudhary Birender Singh will inaugurate it. The discussion in the seminar focuses on Indian steel industry looking up to 2025; mining, production demand and delivery; Innovative applications for a future ready non- ferrous ecosystem; and Metals industry outlook present challenges and future prospects. The Indian steel sector has grown rapidly over the past few years and presently it is the third largest steel producer globally, contributing to about 2% of the country's GDP. India has also crossed 100 MT mark for production for sale.

India is seen as a bright spot" for the global steel production growth on account of the governments push to augment capacity and demand from the construction, automotive and infrastructure sectors. The government has been spearheading growth in steel production capacity, with upgrades being made to existing steel manufacturing units and state-owned companies stepping in to build new steel plants.

The Cabinet approved the National steel policy 2017 that envisages Rs. 10 lakh crore investment to create more capacity in the steel sector. The development is significant as the steel sector is reeling under weak demand and rising raw material prices. The policy also aims at increasing supply of domestic coking coal to cut dependence on imports by half and production of 300 million tonnes by 2030.

The policy also emphasizes at increasing per capita steel consumption to 160 kg by 2030 and encouraging the industry to be a world leader on energy and raw material-efficient steel production in a safe and sustainable manner by maintaining quality standards for domestic steel products.

India's growing urban infrastructure and manufacturing sectors indicate that demand is likely to remain robust in years ahead.

Despite the current challenges, Indian steel industry still has significant potential for growth, underscored by the fact that the per capita steel consumption in the country at 61 kg is much lower than the global average of 208 kg.

However, in the non-ferrous segment, the non-ferrous metals industry (Aluminium, Copper, Zinc, Lead, Tin and Nickel) is looking for a level-playing field against the surge in imports due to inverse duty structure as well as dumping of cheap subsidized goods from China. The situation has been aggravated by India having the FTAs with ASEAN countries, which allows duty free imports of finished goods.

The Aluminium demand continued to remain strong following the steps taken by the government to boost the industrial production and infrastructure. The demand is also expected to rise following the focus on smart cities and improving prospects of business in construction industry.

Technology and innovation play an important role in achieving sustainable growth and impacting competitiveness. Today, mineral and metal industry across the globe is facing a serious economic crisis due to continuous fall in commodity prices, depleting raw material sources, non-availability of high-grade ores, stringent environmental rules and societal expectations. v To take the discussion forward, the Indian Chamber of Commerce (ICC) is organizing the sixth India Minerals and Metals Forum in New Delhi on 20 September 2017. On this occasion, Earnest & Young has prepared a knowledge document on the metals sector, which highlights the overview of the volatility in metals sector. The Chief Guest Chaudhary Birender Singh, Union Minister of Steel, Government of India, Shri Arun Kumar, Secretary Mines, Government of India and other dignitaries present during the Inaugural Session, will release the report.

Source : Business Standard

voda 20 september 2017 16:55

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Thales opens metal 3D printing facility in Morocco

Thales has launched a metal 3D printing facility in Morocco. Thales has inaugurated a new facility in Casablanca, Morocco, specialising in metal additive manufacturing, also known as metal 3D printing. The new industrial Competence Centre forms part of the Industrial Acceleration Plan 2014 to 2020, supported by the Kingdom of Morocco, which supports the development of an innovative ecosystem involving Thales and its local suppliers, including the creation of a high-tech industrial competence centre, Thales said earlier this month.

Metal 3D printing will lead to a reduction in the development and manufacturing times for parts with high added value made from complex metal alloys in all mechanical domains, in particular the aerospace and space domains.

Pierre Prigent, Thales Country Director in Morocco said that "With an existing aerospace ecosystem of subcontractors, Morocco has everything needed to become Thales' global centre of expertise in 3D printing.”

Spread across an area of 1000 m², in the Midparc zone in Casablanca, this industrial Competence Centre will eventually employ around twenty engineers and technicians. It is currently equipped with two so-called selective laser melting technology machines. This technique, which involves fusing metal alloy powders using a high-intensity laser, is used to manufacture metal parts of unrivalled complexity, which cannot be manufactured using current technologies. It is freed from the high-reliability constraints of traditional manufacturing, while reducing the number of parts used and making them lighter. The initial qse series will be produced using aluminium and titanium, widely used in the aerospace sector. In the medium-term, Thales is planning to acquire 10 machines.

Thales has a long-standing partnership with Morocco. The company opened its local office in Rabat in 2006 and is active in Morocco in defence, aerospace, transportation and security, and has 45 employees. In the aerospace domain, Thales has supplied air navigation assistance equipment to the Moroccan Airports Authority (ONDA), along with on-board entertainment systems for the B737 and B787 aircraft of Royal Air Maroc.

In the defence domain, Thales is providing combat systems for Morocco’s SIGMA-class corvettes and communication systems and a sonar suite for the FREMM frigate Mohammed VI.

In April 2013, Thales and Rabat International University signed a partnership agreement in aerospace, space and cybersecurity to support technological innovation through training and research.

Source : Defence Web

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voda 20 september 2017 16:57

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Vale to meet debt target before implementing new growth plans

Reuters quoted an executive director for the world’s largest iron ore producer as saying that the new growth strategy being evaluated by Brazil’s Vale would only be implemented once the company meets its debt reduction targets. Mr Clovis Torres an executive director who oversees legal issues and human resources said that the company is also interested in investing in the electricity sector itself or through a joint venture, including potentially bidding for Companhia Energetica de Minas Gerais hydroelectric projects.

Vale is concerned, however, over legal issues related to auctions, which have been marred by disputes after Cemig lost the renewal of their licenses.

Source : Reuters

voda 20 september 2017 16:59

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Singapore Exchange's dominance of seaborne iron ore derivatives market grows stronger

Straits Times reported that Singapore's position as the dominant market for derivatives products linked to the price of seaborne iron ore has grown even stronger. Investors hoping to dabble in the iron ore market can look to the Singapore Exchange's new SGX Iron Ore Futures Indices, unveiled on Sept 18.

In a statement, the SGX said this is the first series of SGX commodity-based indices to be used as benchmark for tradable products. They will be licensed to Daishin Securities, a Korea-based securities and investment firm.

Comprising two total return indices, the iron ore futures indices are based on the US dollar-denominated SGX TSI Iron Ore CFR China (62% Fe Fines) Index Futures.

More than 1.6 billion tonnes of international iron ore derivatives changed hands on the SGX in the year to June 2017, making the exchange host to more than 90 per cent of the seaborne iron ore market.

SGX head of commodities William Chin said that "With demand for iron ore linked directly to industrialisation across the globe, and particularly in Asia, iron ore has emerged as a robust barometer of global economic activity."

Source : Straits Times

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voda 20 september 2017 17:00

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Brazil mining reform is raising costs for industry - Vale exec

Reuters reported that mining reforms in Brazil are raising the cost of operating without generating increased interest in investing in the sector. Brazil President Michel Temer issued decrees in July to boost mining royalties, create a new industry regulator and streamline regulations, arguing that efficient and transparent rules would bring in more investment. That has not been the case, said Clovis Torres, an executive director for Vale who oversees legal issues and human resources.

Mr Torres told an industry conference that “If it was already difficult to attract external investment for mining, the outlook became even more cloudy (after the reforms).”

The decrees must be confirmed by Congress by a November deadline to become permanent and could be subject to amendments.

Mr Torres said miners were in part frustrated that the reforms were announced by decree, a move that limited public discussion. He said that Brazil has lost ground to Australia in iron ore production because it can take more than 10 years to get a license for a new mine.

He said that the country must cut red tape in order to attract junior mining companies that are key to developing the sector.

Mr Torres said that “Vale has gone years without opening a new mine because we can’t get a license ... how is a junior company going to wait for years?.”

Mining and Energy Minister Fernando Coelho Filho specifically mentioned the 10-year wait time when the reforms were launched and vowed that the new regulations would speed up the process.

Source : Reuters

voda 20 september 2017 17:01

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Tata Steel and GMR in Odisha list for excess mining

Business Standard reported that after iron and manganese ore mines, the non-ferrous mine leaseholders in Odisha might be next in line to cough up penalty for extracting ore beyond the approved limits.

Odisha government has prepared the draft notices for extracting the cost of excess production from coal and other non-ferrous mines like chromite, limestone and dolomite. The notional value of over-production by coal mines has been assessed at INR 22,000 crore. For chromite and other non-ferrous leases, the compensation figure is around INR 5,000 crore, which means an additional penalty of INR 27,000 crore. The total compensation to be forked out by the mining companies could well go beyond INR 50,000 crore.

In case of coal, Coal India-subsidiary Mahanadi Coalfields Ltd (MCL) is the major contributor to overproduction. Other companies in the list, prepared by the state government, which have exceeded permitted production or indulged in over-production include GMR. For chromite, primarily the mines held by Tata Steel and Indian Metals & Ferro Alloys Ltd have also been named. All three companies either didn't replied or could not be reached for comments. However notices to them will be dispatched now, said a government official.

A senior MCL executive declined to comment, citing the company could react only after getting any demand notice. A leading ferro-chrome producer said, demand notices for chromite leases would not be legally tenable, as, such a case was earlier stayed by the Revision Authority under Union mines ministry.

Source : Business Standard

voda 20 september 2017 17:03

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Resilient iron ore price to fall - HSBC mining analysts

The Sydney Morning Herald reported that iron ore prices will experience a "correction" in the final three months of 2017 and then trade below USD 60 a tonne in the first half of 2018 as China reins in steel production. According to an HSBC report, a fall below USD 60 would equate to decline of about 21.6% on current iron ore price levels. A tonne of iron ore delivered to the Chinese port of Qingdao was trading at USD 76.56 on Wednesday night, according to Bloomberg.

But Australia's major miners would still make healthy profits at USD 60 a tonne because of the difference between that price and their production costs, as well as healthy prices for other commodities such as coal (metallurgical and thermal), and copper.

HSBC analysts led by David Pleming said the iron ore price had been "resilient and has maintained its hold above the USD 75 per tonne level".

Mr Pleming said in recent times, Chinese crude steel production had remained strong, with demand for iron ore higher than expected. This produced a tighter market than expected, pushing up iron ore prices by about 30% in the quarter. He added that "But in our opinion, this momentum is unlikely to continue as China's revised environmental policy to extend winter shutdowns for six months (October-March) will result in lower steel production.”

He said that "We believe weaker demand dynamics will push the market into a surplus position (of about 40 million tonnes) during [the December quarter]."

The HSBC report also confirmed that 42.8 million tonnes of iron ore were shipped from Port Hedland in August, a 13% rise on the previous month, but "flat" compared to August last year.

Mr Adrian Prendergast senior resources analyst at Morgans, said iron ore prices were currently at a higher level than had been expected. He said that "Our view hasn't changed except for the fact that we're currently at a higher price than where we expected to be. So our expectation for the rest of the year is that the price will moderate from here. We think over the next 12-18 months iron ore will remain range-bound, with the benchmark price between USD 55 and USD 75 per tonne."

But Mr Prendergast said Australia's big iron ore producers were still in a very healthy position at such prices. He said that "Any price at USD 55 and above you're going to have Rio, BHP and Fortescue all generating very healthy levels of cash flow. For me, it's just pointing to the fact that the earnings cycle for the big miners did bottom in early '16, and we see supply/demand fundamentals around the iron ore market as being one of the key indicators that underpin that good cash-flow outlook going forward long-term. So (I) absolutely think that earnings and cash flow will remain strong, thanks in no small part to the iron ore price being in a healthy range, on average."

Source : The Sydney Morning Herald

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voda 20 september 2017 17:04

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Mining scam - Khan duped lease holder to conduct ore extraction

Herald Goa reported that in what could possibly nail the just-bailed out mine trader Imran Khan, the legal heir of the mining lease at Curpem-Quepem Maria Figueiredo has accused him of exploiting the property for personal gains while the family was kept in the dark about the iron ore activity. In her deposition before the special investigation team of the crime branch Maria mentioned that Imran Khan and his brother has misled her about the actual use of the mining lease.

She said that “Upon death of my sister Georgina, one person who introduced himself as Imran Khan approached me along with his brother at my house at Loutolim and compelled me to sign some documents with regards to mining lease in the year 2007-2008. I do not remember exact date and year. He also told me that there is no ore in the said lease area. However, he would pay me monthly, quarterly in cash and also through bank towards handing over mining lease area for agricultural purpose, emphasising that to best of my knowledge the said mining lease was not working/existing.”

Ms Maria had permanently shifted to Goa in 2008 after residing in Portugal for over four decades. She also alleged that Khan would obtain her signatures on documents and not allow her to read through it.

She said that “Imran Khan would approach us time to time since year 2007 till date for availing my signatures on different documents and pay in cash on every visit. Upon shown the latest letter to the mines department, Goa in my name for extension of mining lease dated April 17, 2017, I say that Imran Khan had come to my residence and told me that nothing to read and took signatures on required documents, asserting that the family was paid for the possession of property but not towards either production or sale of iron ore.”

She claimed that “I am shocked/surprised to know that these people have exploited out property for their personal gains.”

Khan, who was arrested last Tuesday, was granted conditional bail in the same week but the SIT has decided to contest the order by Special Court, Panjim in the High Court of Bombay at Goa. The petition is expected to be filed this week.

Source : Herald Goa

voda 21 september 2017 15:04

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SAIL to regain its position as country's largest steel producer

Business Standard reported that Steel Authority of India Limited is all set to consolidate its position as country’s largest steel producing company. The construction of Blast Furnace-8 installed in Bhilai Steel Plant (BSP) has been completed and the company plans to start operation soon. The blowing-in of BF-8 will complete the modernisation and expansion plan of SAIL. An official told “The completion of expansion plan will enhance SAIL’s crude steel capacity to 21.46 million tonne per annum. This would consolidate the company’s position to remain as number one and dominant player in steelmaking in the country.”

The company had taken up major expansion and modernisation plan in BSP, Rourkela Steel Plant and Burnpur Steel Plant. In other entities of the company, minor expansion plans were also implemented. The expansion programme in Rourkela and Burnpur had been completed earlier and had come to stream. The plan in BSP, which earns highest profit for the SAIL, is in the final stage. The BF-8 has a capacity of 8000 tonnes per day.

Earlier, private steel maker JSW Steel had outshined SAIL to become the largest steel producing company in the country with an installed capacity of 18 million tonne per annum (mtpa) in May this year.

Source : Business Standard

voda 21 september 2017 15:05

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Tata Steel UK & ThyssenKrupp merger only a short reprieve - UBS

The Telegraph reported that fears are growing that the mega-merger between Tata and ThyssenKrupp’s European steel business to create a GBP 13.3 billion a year industry giant and safeguard their futures, along with thousands of British jobs, will only grant a temporary reprieve. UBS has questioned whether the strategy behind the deal, to produce advanced steel China cannot, is a long term remedy. The heavyweight bank said China could quickly catch up, negating the rationale for the merger. If this happens Europe’s steel sector could be plunged back into a crisis of the like seen two years ago which cost more than 10,000 jobs.

Mr Carsten Riek, executive director in steel research at UBS, said “Moving to higher value products is what everyone in the steel industry is trying to do and it is important for Tata-ThyssenKrupp to do it quickly. But going to higher value products could only be a temporary reprieve. The Chinese could catch up very quickly, possibly in five years.”

He said the only way to guarantee a future for European steelmaking is removing excess production. He said “What is needed to safeguard the European steel sector is taking out capacity and we have not heard much about that in the details of this merger.”

Source : The Telegraph

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voda 21 september 2017 15:06

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Employees not yet on board on ThyssenKrupp Tata Steel UK merger plans - German minister

Reuters reported that German Economy Minister Brigitte Zypries said on Wednesday that employees were not yet convinced about plans for ThyssenKrupp and Tata Steel UK to merge and added that all affected parties needed to accept any deal.

He said in an emailed statement “The employees are not yet convinced about this decision and they are very concerned about job losses. It’s not conceivable that there could be a sustainable solution that goes against the will of the employees and the company management needs to know that.”

Source : Reuters

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voda 21 september 2017 15:07

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ArcelorMittal Galati launches color coated steel line

ArcelorMittal Galati announces the launching of a new family of products - organic coated coils, following an EUR 15 Million investment. Mr Bruno Ribo, Chief Executive Officer of ArcelorMittal Galati

Source : Strategic Research Institute

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voda 21 september 2017 15:08

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Tata Steel UK & ThyssenKrupp merger will be debt relief for parent - Analyst

Financial Express reported that the proposed ThyssenKrupp & Tata Steel UK joint venture will result in significant de-leveraging exercise for Tata Steel as it will transfer EUR 2.5 billion debt to the joint venture company, which according to analysts represents nearly 35-40% of the debt in its European business.

Analysts at Indian brokerages have said that the joint venture will help prevent the cash burn which has largely contributed to Tata Steel’s net debt over the years. Between 2010 and 2017, Tata Steel’s consolidated net debt increased to INR 74,500 crore from INR 44,400 crore largely due to an increase in the Europe debt to INR 51,700 crore from INR 29,300 crore.

Kotak Institutional Equities had estimated before the MoU that the combined entity can have a market share of 10-12% in Europe. It said “Tata Steel’s leverage ratios can improve materially with net debt to Ebitda coming down to 3.8 times against a high of 9.2 times in 2016.”

Source : Financial Express

voda 21 september 2017 15:09

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US DOC starts probe on import of welded pipes from Vietnam

The United States Department of Commerce announced the initiation of anti dumping duty investigations of imports of circular welded carbon-quality steel pipes (CWP) from Viet Nam. The DOC is also investigating the imports from others countries, including Oman and the United Arab Emirates.

Previously, on October 28, American plaintiffs of this investigation, including Bull Moose Tube Company, EXLTUBE, Wheatland Tube and Western Tube and Conduit had filed a lawsuit against dumping and anti-subsidy to DOC and the International Trade Committee (ITC).

The dumping margin on Vietnamese CWP is at the highest rate of 113.8%, followed by Oman at 98.87% to 105.58% and the UAE from 47.06% to 54.27%.

According to American law, The US International Trade Commission is schedule to make its preliminary injury determinations on or before December 14 this year.

If the ITC determines that there is a reasonable indication that imports of circular welded pipe from Viet Nam threaten American industry, the investigations will continue and the DOC will be scheduled to make its preliminary decision on 2016.

In 2011, the United States conducted anti-dumping and countervailing duty investigations on CWP imported from Viet Nam and other countries such as Oman and the United Arab Emirates.

However, the investigation ended as the DOC said Vietnamese firms had not received any subsidies from the government, and the ITC said there was no damage done to the American CWP industry.

In 2014, imports of CWP from Viet Nam were valued at an estimated USD 60.6 million.

Source : Biz Hub

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