EU investigates imports of Chinese oil and gas pipes

EU investigates imports of Chinese oil and gas pipes. The European Commission launched an investigation last week into whether Chinese exporters are dumping steel pipes and tubes used for drilling and transporting oil and gas on the European market. Preliminary evidence suggests "significant" dumping and "substantial adverse effects on the overall performance of the Union industry," the European Union executive said in its official journal. The investigation could last for up to 15 months and may result in punitive duties being imposed on Chinese-made stainless steel seamless tubes and pipes. These could stay in place for up to five years. It follows a request for measures this summer by German steel group Salzgitter and Spanish tube maker Tubacex. The two firms say illegal Chinese export pricing and overcapacity are harming their operations in Austria, Germany, France, Italy and Spain.