January 4, 2010

Good News for Ukraine’s Steel Industry

It looks like Ukraine's steel industry has better prospects in 2010 thanks to … the US International Trade Commission (USITC). The US steelmakers just won a case against surging imports of Chinese steel pipes.

WSJ writes that: "The ruling Wednesday (Dec 30) will result in duties of between 10% and 16% on future imports of Chinese steel pipes used to extract natural gas and oil. It is the latest in a string of trade decisions against China and threatens to further aggravate trade tensions between the two nations."

As far as I know, there are only few countries producing this kind of steel pipes in the world, including China, Russia, and Ukraine. Given the current state of foreign affairs, USA is more likely to buy steel pipes from Ukraine rather than from Russia. Happy New Year, Mr. Pinchuk and Mr. Akhmetov!

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