[Asia Economy Reporter Hyungsoo Park] Dongyang Steel Pipe is showing strong performance. The news that the U.S. Department of Commerce preliminarily determined a 0.00% anti-dumping rate for Korean Large Diameter Welded Pipe for the 2018?2020 anti-dumping administrative review appears to have influenced the stock price.
As of 12:51 PM on the 28th, Dongyang Steel Pipe is trading up 6.89% at 1,785 KRW.
The Washington branch of the Korea International Trade Association reported, “The U.S. Department of Commerce announced the preliminary determination results of the 2018?2020 anti-dumping administrative review for Korean Large Diameter Welded Pipe.”
The U.S. Department of Commerce stated, “Korean products are not being sold at prices lower than the market price,” and preliminarily determined a 0.00% anti-dumping rate for Korean companies including Hyundai Steel.
The steel pipe industry expects this to help enhance export competitiveness as export burdens decrease. The possibility of export expansion is also increasing due to ongoing discussions on revising Section 232 of the Trade Expansion Act, which had previously blocked steel pipe exports to North America.
Dongyang Steel Pipe has established induction heat treatment facilities at its Cheonan plant, the largest domestic facility for large-diameter steel pipes. By introducing a patented heat treatment method that rotates and moves the steel pipes during heat treatment, it has resolved previous shape deformation issues. The facility can perform heat treatment on steel pipes with diameters ranging from 400 to 2,500 mm at temperatures up to 1,000 degrees Celsius. With the establishment of this heat treatment facility, the company expects to diversify its product lineup, secure high value-added technology to strengthen competitiveness, shorten production periods, reduce costs, and improve profitability through the production of high-quality, high value-added products.
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