The author is an analyst for NH Investment & Securities. He can be reached at kyeongkeun.kang@nhqv.com -- Ed.Specialized steel pipe manufacturer Nexteel boasts sound earnings, with its raw materials cost-ASP spread widening amid strong US demand for energy pipes. Utilizing funds to be raised through
The United States Department of Commerce said that its quota applied to South Korean steel exporters is not subject to renegotiations.The South Korean government opted for the quota in 2018 in order to avoid high tariffs. Specifically, South Korea’s annual steel exports to the United States are limi
The U.S. government is considering imposing countervailing duties on South Korean and Russian oil country tubular goods (OCTG). South Korean steel pipe manufacturers are facing increasing difficulties with a quota already applied to steel exports from South Korea to the United States.The United Stat
The Korea International Trade Association announced on Dec. 6 that the U.S. Department of Commerce’s tariff rate on South Korean oil pipelines was recently fixed at 9.33 percent to 15.07 percent in its third anti-dumping annual review for the period of Dec. 1, 2017 to Nov. 30, 2018.The final tariff
The United States Department of Commerce has imposed a provisional anti-dumping duty of 31.64 percent on Nexteel’s carbon steel pipes for ordinary piping. In addition, the department levied provisional anti-dumping duties of 5.11 percent and 23.74 percent on the same products exported by Husteel and
The United States has more than doubled tariffs on Korean oil pipelines. U.S. trade pressure is mounting on Korea as U.S. President Donald Trump is seeking to strip it of the developing country status in the World Trade Organization (WTO).The U.S. Department of Commerce decided to impose a 38.87 per
The United States Department of Commerce recently fixed its countervailing duty on POSCO’s hot-rolled steel sheets at 41.57 percent after the United States Court of International Trade told the department to recalculate it for lack of reasonable grounds. Earlier, the department imposed a countervail
The United States Department of Commerce is predicted to almost triple its anti-dumping duties on South Korean steel companies’ oil pipeline products as compared with last year despite the United States Court of International Trade’s recent ruling against its duties on oil country tubular goods impo
The U.S. Court of International Trade (USCIT) put the brakes on the Particular Market Situation (PMS), which is a method the U.S. Department of Commerce has used in imposing high tariffs on South Korean steel. South Korean steel companies are anticipating that the court’s recent decision will help t
The U.S. Department of Commerce has decided to impose a retaliatory tariff of 30.85% on Hyundai Steel’s circular welded non-alloy steel pipes. Previously, similar decisions were made on South Korean line pipes and oil country tubular goods (OCTG) as well.The department recalculates its tariffs on di
In April this year, the Donald Trump administration decided to impose a retaliatory tariff of 76% on Nexteel, Korea’s No. 1 exporter of oil country tubular goods (OCTG) to the United States, ignoring the 46.37% tariff determined in its own preliminary ruling. The news jolted the entire South Korean
According to industry sources on May 5, the United States International Trade Commission (USITC) recently made an issue of PT Krakatau POSCO, that is, POSCO Indonesia, in deciding to extend the 48% anti-dumping duty on thick plates made in Indonesia. This is based on American steel companies’ claim
The Ministry of Trade, Industry & Energy of Korea announced on January 15 that WTO’s final decision was made on January 12 regarding anti-dumping disputes over oil country tubular goods (OCTG) between South Korea and the United States.In November last year, the Dispute Settlement Body (DSB) of the W
The US is imposing high tariffs on Korean steelmakers from all directions. The US Congress laid the foundation in 2015 for such high tariffs by passing the Trade Preferences Extension Act (TPEA) which the US Department of Commerce could use adverse facts available (AFA) and particular market situati
The U.S. Court of International Trade (CIT) ruled, on December 15 (local time), that South Korea’s industrial electricity price does not benefit as a subsidy in the lawsuit which Maverick Tube Corporation and the U.S. Department of Commerce filed against Seah Steel in October this year.This is the f
The Canada Border Services Agency (CBSA) decided to impose anti-dumping duties of 4.1% to 88.1% on carbon and alloy steel pipes imported from South Korea, according to the industry source on December 10. The tariffs are effective until 2022 and the rates can be adjusted once a year during the period
The U.S. Department of Commerce preliminarily determined to impose an antidumping duty of up to 38 percent on circular welded non-alloy steel pipe (CWP) imports from South Korea at its annual review, according to the United States Federal Register on December 7. The tariff rates are 38.16 percent on
The US Commerce Department made the final decision to impose antidumping tariffs up to nearly 25 percent on oil country tubular goods (OCTGs) imported from South Korea.The department announced on 11 (local time) that it will levy 24.92 percent tariffs on from Nexteel’s OCTGs, 2.76 percent on SeAH St
According to the Ministry of Trade, Industry and Energy announced on October 10, the United States Commerce Department has decided to lower punitive tariffs imposed on oil country tubular goods imports from South Korea by as much as 9.83 percentage points, compared with the initial determination, at
Korean steel manufacturers are struggling in both the domestic and overseas markets. Cheap Chinese products are increasing their share in the Korean market while various trade regulations are strangling them abroad.According to the Korea iron and Steel Association, a total of 11,051,210 tons of stee