May 26, 2009
U.S. producers comprising the Stainless Steel Tube Trade Advancement Committee (SSTTAC) have noted that, despite the significant recession in the United States, imports of stainless steel pipe and tube showed substantial growth in early 2009 over 2008.
According to David A. Hartquist, the SSTTAC's legal counsel, "Despite the substantial economic downturn globally and in the United States, imports from China increased almost 20 percent in the first two months of 2009 compared to the same period in 2008. China remains by far the largest foreign supplier of the material produced by our member companies, accounting for nearly half of total imports. Chinese producers are also moving into high-nickel seamless tubing."
Hartquist added, "Chinese pricing remains substantially below that of other significant foreign and domestic producers. With an average unit value of $8,000 a ton for small diameter seamless stainless tubing, Chinese producers may well be dumping their product in our market. The Chinese government provides a wide range of subsidies to Chinese steel producers, including undervaluation of their currency, the yuan, at roughly 35 percent. This is unfair competition," he said.
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