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Baoshan Steel Wins Drill Pipe Anti-Dumping Case in U.S.

March 4 (Bloomberg) -- Baoshan Iron & Steel Co., China’s biggest publicly traded steelmaker, won an anti-dumping case in the U.S. over its shipments of drill pipes, the company said in a statement on its Web site.

The U.S. commerce department ruled in August that the company had a dumping rate of 7.64 percent, which was subsequently lowered to 2.66 percent, the Shanghai-based steelmaker said on March 2. Baosteel presented evidence to refute the ruling and was exonerated, it said.

The U.S. is the world’s largest oil pipe market, according to Baoshan. The U.S. market for drill pipes, which are high-end oil pipe products, was controlled by U.S., European and Japanese manufacturers until Baoshan became the first Chinese steelmaker to export pipes to the U.S. in 1997, Baoshan said.

Link to Company News:{600019 CH <Equity> CN <GO>}

To contact the reporter for this story: Xiao Yu in Beijing at yxiao@bloomberg.net;

To contact the editor responsible for this story: Andrew Hobbs at ahobbs4@bloomberg.net

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