According to Turkish Steel Exporters' Association (CIB), the US Department of Commerce (US DOC) has announced the preliminary results of the countervailing duty investigation against Turkish OCTG imports.
The US DOC has imposed a preliminary countervailing duty of 25.67 percent for Turkish steel pipe producer Borusan Mannesmann, finding that steel coils bought by the pipe producer from Turkey's largest integrated steelmaker Erdemir were lower than market prices and that Erdemir is believed to be state controlled. A preliminary countervailing duty of 1.67 percent has been found for another Turkish steel pipe producer, Toscelik, according to the CIB.
CIB chairman Namik Ekinci stressed that this is not the final decision, which is to be announced after the hearing which will take place on July 15.
