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US panel finds against China firms in steel case
May. 4th, 2010
WASHINGTON, May 3 (Reuters) - Chinese companies sold $2.8 billion worth of oil well drill pipe at unfairly low prices in the United States, damaging U.S. firms, the U.S. International Trade Commission (USITC) ruled on Monday.
The finding clears the way for the Commerce Department to impose anti-dumping duties after a one-year investigation of a petition by the United Steelworkers union and companies including United States Steel Corporation (X.N), the USITC said.
"A U.S. industry is materially injured or threatened with material injury by reason of imports of certain oil country tubular goods from China that Commerce has determined are sold in the United States at less than fair value," it said in a statement.
"As a result of the USITC's affirmative determinations, Commerce will issue an anti-dumping duty order on imports of these products from China," it said.
The oil pipe case, whose value of $2.8 billion makes it a record, comes as the leaders of the United States and China struggle to manage disputes over China's huge trade surplus and the value of the Chinese currency.
U.S. economists, unions and some manufacturers say that China keeps its yuan deliberately undervalued to give China's exporters a price advantage in U.S. and other markets -- effectively stealing manufacturing jobs.
Other companies behind the dumping petition were Maverick Tube Corporation, V&M Star LP and V&M Tubular Corporation of America from Texas; the Wheatland Tube Corp. of Pennsylvania; TMK IPSCO of Iowa; and Evraz Rocky Mountain Steel of Colorado.
(Reporting by Paul Eckert; editing by Patrick Graham)
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