The US Department of Commerce announced the preliminary results of its administrative revision of the countervailing duty on standard pipes, shut-off valves and other pipe fittings. The overview covers three Turkish manufacturers - exporters Borusan Group, Erbosan Group and Toscelik Groups.
DOC has calculated preliminary subsidies of 0.24% for the Borusan group, 0.30% for the Erbosan group and 0.29% for the Toscelik group. These differences are minor. Currently, the countervailing duty on the deposit rate for the Borusan Group and the Toscelik Group is zero, while the countervailing duty on the deposit for the Erbosan Group is 3.97%. DOC plans to complete the administrative settlement of fees by August 2013.
Until that time, the current countervailing duties remain in effect. Any changes in deposit rates resulting from this revision will only become effective when the DOC is published as final results in the Federal Register. There is also anti-dumping duty on welded carbon steel pipes for standard pipes imported from Turkey. Dumping duty rates are 3.55% in the Borusan group, 5.57% in the Erbosan group and 0.00% in the Toscelik group.
Borusan Group plans to build a plant in the United States in 2014. The volume of investments will amount to $ 150 million. The enterprise will produce pipes for the actively developing US oil and gas sector, namely for the shale gas industry. As a result, Borusan will more than double its share of this segment in the US pipe market.
