Exports of pipeline products from South Korea to the United States are likely to be virtually stopped from next month, as the export quota set by the US Department of Commerce will apply from January 1 this year, rather than May 1.
Based on customs data, South Korean steel pipe suppliers exported about 200,000 tons of pipeline products to the United States in the first four months of this year. This value is about 70% of the quota. This month, the figure will reach 90%, given that the average monthly export of South Korean suppliers of steel pipes to the US market is about 50,000 tons.
For South Korean pipe pipe exporters, the US market is important as they account for at least 85% of their total exports. However, the US export quota has already been exhausted before the end of the first half of this year due to retroactive use.
Since the beginning of this year, South Korean pipe manufacturers have increased their exports to the US market on the basis of a forecast that the Commerce Department will calculate exports from May 1 in accordance with section 232 of the Trade Expansion Act of 1962.
Export of pipes from South Korea to the USA will be stopped from June
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Azovpromstal® 10 May 2018 г. 13:25 |
