Author: Paul Ploumis23 Apr 2015 Last updated at 03:53:15 GMT
LIMA (Scrap Monster): The Peruvian anti-dumping agency, Indecopi, on Tuesday decided to impose anti-dumping duties on imports of hot-rolled steel tubes from China for a period of three years. The duties will be applicable for imported round, square and rectangular welded tubes of thickness ranging from 1.55 mm to 6 mm.
The major Chinese exporting companies- Tianjin Youfa International Trade Co., Tianjin Youfa Steel Pipe Group Co., NO. 2 Branch Co and Tianjin Youfa Dezhong Steel Pipe Co. will face a duty of $60/mt. Also, Tianjin Zhihengtai Steel Co. and all other Chinese firms will face a duty of $89.80 per mt.
According to the agency, the imports of steel tubes from China surged significantly during recent times. Statistics indicate that the market share of Chinese products almost doubled from 20.2% in 2010 to 38.9% between January and September 2013. The anti-dumping investigation which began in June 2013 had determined that the dumping of Chinese products into Peruvian market damaged the domestic producers.
The investigations followed complaints filed by Tupemesa, a subsidiary of Chile's integrated steel group CAP, alleging that increased imports of these products had hurt their business and margins.