WASHINGTON, April 28, 2015 /PRNewswire-USNewswire/ -- Imports of seamless stainless steel tube from China and Japan continue to surge into the United States market at a rapid pace, according to the Stainless Steel Tube Trade Advancement Committee (SSTTAC). "Imports from China and Japan in 2014 increased by nearly 1800 tons, accounting for all of the growth in imports last year, based on official U.S. government trade data," said David A. Hartquist, counsel to the SSTTAC and a partner in the law firm Kelley Drye & Warren, Washington, DC. "Data through February 2015 is also startling. Exports from the two countries into the U.S. increased by 67 percent over February 2014. The two countries' share of total imports increased from 50 percent in February 2014 to 58 percent in February 2015. The Asian producers are edging out imports from other foreign producers, and are entering the U.S. at prices well below those of U.S. producers. In the meantime, the European Union has an antidumping order in place against China, with duties ranging up to 72 percent. This causes Chinese producers to favor exporting to the U.S. The SSTTAC continues its active monitoring of such imports and will consider what further actions should be taken," Hartquist said.
The SSTTAC promotes domestic manufacturing of high quality seamless stainless steel tubing. To assure quality products in the marketplace, SSTTAC member companies produce tubing to industry and consumer specifications in accordance with guidelines and requirements of accreditation societies.
The Stainless Steel Tube Trade Advancement Committee is comprised of U.S. producers of seamless stainless steel pipe and tube. The SSTTAC website is www.ssttac.com. David A. Hartquist, counsel to the group, is Senior Partner in the International Trade and Customs practice group in the Washington, D.C. office of Kelley Drye & Warren LLP.
The SSTTAC meets periodically to discuss opportunities and issues facing manufacturers of seamless stainless steel tubing. Topics include a discussion of the current market situation, which is placed on the SSTTAC website (www.ssttac.com) and international trade issues including ongoing examination of the compliance of foreign producers with U.S. antidumping and countervailing duty (subsidy) laws.
SOURCE Stainless Steel Tube Trade Advancement Committee