Foreign Pipe Update

On July 11th the Obama Administration imposed duties on steel pipe coming from South Korea and seven other countries.

The duties ranged from 9.89% to 15.75%. The majority of the pipe is used in the oil industry.

Last year South Korea imported $818-mil. of pipe and $700-mil. was imported from the other countries, all of it will be additionally taxed.

These imposed duties will likely result in higher prices for pumping pipe systems.