(Bloomberg) -- The European Union may remove a 35.8
percent tariff on steel pipes made by Russia's OAO TMK, a step
that would help the company's exports and expose EU producers
including Tenaris SA and Vallourec SA to more competition.
The EU said it would review the need for the duty against
TMK, Russia's biggest maker and exporter of steel pipes, because
the company's production costs may be lower than originally
assumed. The EU also left open the possibility of paring the
levy, which is meant to punish TMK for selling seamless pipes
and tubes in the bloc below domestic prices or below the
production cost, a practice known as dumping.
Read more at Bloomberg Emerging Markets News
percent tariff on steel pipes made by Russia's OAO TMK, a step
that would help the company's exports and expose EU producers
including Tenaris SA and Vallourec SA to more competition.
The EU said it would review the need for the duty against
TMK, Russia's biggest maker and exporter of steel pipes, because
the company's production costs may be lower than originally
assumed. The EU also left open the possibility of paring the
levy, which is meant to punish TMK for selling seamless pipes
and tubes in the bloc below domestic prices or below the
production cost, a practice known as dumping.
Read more at Bloomberg Emerging Markets News
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