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http://www.bloomberg.com/apps/news?pid=206...id=aM38S7oMPjLs

May 22 (Bloomberg) -- U.S. makers of pipes used for oil wells are being harmed by a surge of Chinese imports, a U.S. agency ruled in a decision that may lead to tariffs of as much as 99 percent on $2.6 billion in goods.

The U.S. International Trade Commission ruled 6-0 in favor of domestic companies such as U.S. Steel Corp., the U.S. operations of Evraz Group SA and Wheatland Tube Co., controlled by the closely held Carlyle Group. The United Steelworkers union also joined in filing the case.

Five of the commissioners said they voted for the petition because there is a threat of harm to U.S. producers.

The case may help U.S. Steel and other domestic producers weather a drop in demand for the pipe following the collapse in oil prices over the past year. It also may be a precursor for a number of trade complaints against China as the contracting economy prompts American companies to seek protection.

“This enormous surge of unfairly traded goods resulted in an overhang of inventory that has crippled the industry,” Erin DiPietro, a U.S. Steel spokeswoman, said in a telephone interview.

‘Strong Message’

“It is a great outcome,’ Dan DiMicco, chief executive officer of Nucor Corp., the second-biggest U.S. steel producer, said in an e-mailed response to questions. “The biggest benefit is the very strong message that a 6-0 ruling on threat sends to those that would illegally abuse our markets, in particular the Chinese.”

U.S. Steel declined 41 cents, or 1.4 percent, to $29.59 at 12:55 p.m. in New York Stock Exchange composite trading. Nucor rose 70 cents, or 1.8 percent, to $39.94.

Wang Baodong, a spokesman for China’s embassy in Washington, wasn’t immediately available to comment.

The decision is the first of four the U.S. companies must win to get duties on the imports of Chinese pipes. Later this year the U.S. Commerce Department will rule on whether China is subsidizing its pipe makers and by how much, as well as how deeply the manufacturers are discounting their products for the U.S. market. That will determine the level of duties.

The case is the largest dumping and countervailing duty case pending against China, and has already become a diplomatic issue for the administration of President Barack Obama. In a meeting with commissioners from the ITC last month, Chinese officials protested the pending case. ITC Chairman Shara Aranoff called the comments “not appropriate.”

The companies petitioned for dumping duties ranging from 37 percent to 99 percent, and countervailing duties at a level they didn’t specify.

Supplying the Market

“A huge amount of Chinese pipe ended up in the U.S. because you couldn’t get some of this product,” Chuck Bradford, a partner at Affiliated Research Group, said in a telephone interview before the decision. “If the price of oil goes up and drilling comes back, there won’t be Chinese pipe to supply the peak part of the markets.”

Imports from China of steel pipe more than tripled to $2.6 billion in 2008, from $750 million the year before, according to Commerce Department data.

Toward the end of 2008, crude oil futures had dropped more than 75 percent since reaching a record $147.27 in July on the New York Mercantile Exchange. Oil for July 2009 delivery traded at $61 barrel at 11:11 a.m. today in New York, about 58 percent below the peak.

‘Some Fun’

Trade lawyers and analysts expect U.S. industries to ramp up complaints against imports from China as the economic decline cuts into their profits and they test Obama’s campaign pledge to increase trade enforcement, said Charles Freeman, a fellow at the Center for Strategic and International Studies and former U.S. trade official dealing with China.

“For those of us who make our living” from antidumping trade cases, “we’ll have some fun for the next few years,” Freeman told a meeting in Washington yesterday.

On April 27, U.S. Steel of Pittsburgh reported a first- quarter net loss that was more than twice analysts’ estimates, citing “unprecedented” volumes of imports from China. At the same time, Moody’s Investors Service downgraded about $1.6 billion of the company’s debt to junk status.

Charlotte, North Carolina-based Nucor reported on April 23 the first quarterly net loss in the company’s history.

The United Steelworkers, which represent employees at tire plants, this year filed a special petition to get quotas on tire imports from China.

Cue battle for anti-anti-anti satellite-launch supremacy.

Toodlepip - I'm off to grab as many fistfuls of General Dynamics and Raytheon as I can.

Edited by ParticleMan

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mmmmm i think we should go to war with wales because it would be better for the environment with less flights, and also we would win much sooner as they dont have an army.

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Oh look I'm too old to be crawling around on my hands and knees in full battledress in a paddy field, on top of which I really can't be ar5ed. Can I opt for nuclear oblivion?

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mmmmm i think we should go to war with wales because it would be better for the environment with less flights, and also we would win much sooner as they dont have an army.

careful,they have very sophisticated accoustic weapons.

those welsh male choirs are deadly :lol::lol::lol:

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Oh look I'm too old to be crawling around on my hands and knees in full battledress in a paddy field, on top of which I really can't be ar5ed. Can I opt for nuclear oblivion?

I'm bored and ill. I second nuclear oblivion.

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Coming to a planet near you soon.

The big mistake people made when the Berlin Wall came down was to assume that an end to ideological differences meant an end to conflict.

If they had spent a few hours researching the origins of World War I they would have known that the idea of the 'End of History' was nonsense of the first order. In 1914 nearly all the monarchs of the Great Powers were cousins and many of the leading European aristocracts were related. Despite the shared culture and interest of the elites It did not stop a cataclysmic war in which millions died.

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Coming to a planet near you soon.

The big mistake people made when the Berlin Wall came down was to assume that an end to ideological differences meant an end to conflict.

If they had spent a few hours researching the origins of World War I they would have known that the idea of the 'End of History' was nonsense of the first order. In 1914 nearly all the monarchs of the Great Powers were cousins and many of the leading European aristocracts were related. Despite the shared culture and interest of the elites It did not stop a cataclysmic war in which millions died.

sibling rivalry at it's best.

same the world over isn't it?

in any family,you always have the bolshy kid who wants to out-do his brothers+sisters.

relationships in general follow the same pattern.

somebody ALWAYS wants to wear the trousers.

the more chilled-out folks can cope with an occasional conflict once in a while,and doesn't usually get brutal....of course it feels pretty horrible because it's a rarity,and mostly there's a few hurt feelings and tha's it

the more highly strung,when coupled together, end up in frequent bouts of domestic violence because neither party is prepared to comprimise.In this instance you can expect quite a few physical injuries.

Edited by oracle

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sibling rivalry at it's best.

same the world over isn't it?

in any family,you always have the bolshy kid who wants to out-do his brothers+sisters.

relationships in general follow the same pattern.

somebody ALWAYS wants to wear the trousers.

the more chilled-out folks can cope with an occasional conflict once in a while,and doesn't usually get brutal....of course it feels pretty horrible because it's a rarity,and mostly there's a few hurt feelings and tha's it

the more highly strung,when coupled together, end up in frequent bouts of domestic violence because neither party is prepared to comprimise.In this instance you can expect quite a few physical injuries.

I dont think we need fear the chinese.

This week I bought a skeleton gun to squeeze out silicon and it busted first squeeze.

I bought a hacksaw with blade installed and the blade broke into 6 pieces on the first pass over the metal.

Evidently some of the stuff is good and some is total rubbish.

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War on the way up, war on the way down.

But where?

I would have thought that was obvious. Pipelinistan, Pipelania and the Pipetarctic

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http://www.bloomberg.com/apps/news?pid=206...id=aqxdB710E.GU

June 5 (Bloomberg) -- General Motors Corp., seeking to shed unprofitable units after filing for bankruptcy, may have its agreement to sell the Hummer sport-utility vehicle brand blocked by Chinese regulators, threatening 3,000 U.S. jobs.

Sichuan Tengzhong Heavy Industrial Machinery Co.’s bid for Hummer runs counter to China’s attempts to develop a globally competitive auto industry by focusing on fuel-efficient vehicles, according to analysts. The government also wants to pare the nation’s more than 100 automakers to ease competition.

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Guest vicmac64
I dont think we need fear the chinese.

This week I bought a skeleton gun to squeeze out silicon and it busted first squeeze.

I bought a hacksaw with blade installed and the blade broke into 6 pieces on the first pass over the metal.

Evidently some of the stuff is good and some is total rubbish.

Great post - had a good laugh.

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http://www.bloomberg.com/apps/news?pid=new...id=aSxIXnlTpUf4

June 18 (Bloomberg) -- U.S. tire companies are being harmed by products from China, a U.S. agency ruled, setting up a decision by President Barack Obama on whether to impose tariffs or quotas on America’s biggest source of imports.

The U.S. International Trade Commission ruled 4-2 that U.S. producers are being hurt by $1.7 billion in Chinese imports. The panel will now come up with recommendations on what Obama should do to help tire makers such as Akron, Ohio-based Goodyear Tire & Rubber Co. and Findlay, Ohio-based Cooper Tire & Rubber Co.

“The remedies that will be delivered to President Obama will allow the time necessary to rebuild the U.S. tire industry,†said Leo Gerard, president of the United Steelworkers union, which filed the case on behalf of the workers it represents at tire factories.

By law, Obama has to make a decision on the so-called safeguard petition by September.

:

The United Steelworkers want Obama to cut imports of automobile tires from China by more than half to 21 million, the level in 2005. China sent 46 million tires to the U.S. in 2008.

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Obviously you can only have global free trade by creating vast amounts of leveraged debt to soften the blow for those whose high living standards renders them uncompetitive,and stimulate demand so that the exporting nations can maintain their markets.

Without that leveraged debt, normal service ("protectionism") is resumed.

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I bought a new pair of running shoes this week, and I'm particularly glad not to have contributed to the economy of our favourite south-east Asian totalitarian regime. They were made in Vietnam.

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I dont think we need fear the chinese.

This week I bought a skeleton gun to squeeze out silicon and it busted first squeeze.

I bought a hacksaw with blade installed and the blade broke into 6 pieces on the first pass over the metal.

Evidently some of the stuff is good and some is total rubbish.

This is worth a watch on Newsnight

A trip through China's economic crisis - part one

http://news.bbc.co.uk/1/hi/programmes/newsnight/8104988.stm

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I bought a new pair of running shoes this week, and I'm particularly glad not to have contributed to the economy of our favourite south-east Asian totalitarian regime. They were made in Vietnam.

I have tried to buy British of late. I find it is a very good way to buy sod all.

Can't we just blow up Newport Pagnell as a way to start something with someone or something?

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Obviously you can only have global free trade by creating vast amounts of leveraged debt to soften the blow for those whose high living standards renders them uncompetitive,and stimulate demand so that the exporting nations can maintain their markets.

Without that leveraged debt, normal service ("protectionism") is resumed.

You need the debt so they will blame themselves for becoming poorer.

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I dont think we need fear the chinese.

This week I bought a skeleton gun to squeeze out silicon and it busted first squeeze.

I bought a hacksaw with blade installed and the blade broke into 6 pieces on the first pass over the metal.

Evidently some of the stuff is good and some is total rubbish.

Steroid addiction , seen it before ...... you'll feel better when you admit you have a problem.

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Steroid addiction , seen it before ...... you'll feel better when you admit you have a problem.

No steroids needed, mix up between spring steel and spring roll at the manufacturing plant.

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