According to industry association statement, China Chamber of Commerce of Metals Minerals & Chemicals Importers & Exporters was deeply unhappy with and strongly opposed to US affirmative determination on the anti dumping and anti subsidy probe into steel pipes imported from China.

The US Commerce Department has determined on May 30th 2008 that Chinese producers and exporters sold standard pipe in the United States at 69.20% to 85.55% less than normal value, and received net countervailable subsidies ranging from 29.57% to 615.92%.

CCCMC claimed that the use of anti subsidy measures infringes US rules and the tradition of not adopting anti subsidy measures against non market economies which has been practiced since 1984.

The statement said the frequent requests for anti subsidy probes into Chinese exports made by US industries are not conducive to the normal development of the bilateral trade relations. It said US ruled that China distorted the domestic prices of hot-rolled sheet steel and subsidies were received by all pipe producers, ranging from state-owned to private makers.

CCCMC said it runs counter to the World Trade Organization Agreement on Subsidies and Countervailing Measures. It said that US Department of Commerce’s false calculation of the subsidies and consequent double taxation, greatly hurt the interests of Chinese industry and is not acceptable to China.

CCCMC strongly urged the US to treat and solve Sino-US steel trade problems fairly proceeding from the long term interest of bilateral trade and economic cooperation.

Washington, D.C. ¨C Based on preliminary Census Bureau data, the American Iron
and Steel Institute (AISI) reported today that the U.S. imported a total of 2,944,000
net tons (NT) of steel in April 2008, including 2,194,000 NT of finished steel (up 15
and 4 percent, respectively, vs. March final data). Total and finished steel imports
through the first four months of 2008 are down 7 and 9 percent, respectively vs. the
same period in 2007. However, the monthly average for finished steel imports in
the most recent 3-month period (February-April 2008) is up 8 percent vs. monthly
average in the previous 3 months (November 2007-January 2008). Total and
finished steel imports on an annualized basis are down 4 and 5 percent,
respectively, vs. 2007. On an annualized basis, total imports of steel in 2008 would
be 32 million NT.

Key products with large increases in April compared to the month before include:
Ingots and Billets and Slabs (up 64%), Hot Rolled Sheets (up 40%), Reinforcing Bar
(up 30%), Wire Rods (up 92%), Plates in Coil (up 33%) and Cold Finished Bar (up
32%). For the first four months of 2008, products showing increases vs. the same
period in 2007 were Line Pipe (up 26%), Oil Country Goods (up 18%) and Heavy
Structural Shapes (up 10%).

According to the latest Metals Activity Report from US based Metals Service Center Institute, US and Canadian metals service centers rebounded in April from unseasonably low levels in March, with year over year shipment increases in nearly all metals categories.

Inventories of both metals remained at levels well below total stocks at the end of April 2007 and were down, as well, from inventories reported at the end of March 2008, with one important exception, the Metals Activity Report from the Metals Service Center Institute shows.

The one exception was inventories of steel products in the United States, which rose slightly, to 12.4 million tons or 2.6% above US steel stocks at the end of March. Metals customers appear to buy only when they need product and service centers have maintained inventories closely aligned with demand.

Shipments of steel products from US service centers rose 3.3% in April, to 4.65 million tons as compared with April 2007. For the year to date, shipments of 17.7 million tons were down 2.8% from volume during the first four months of 2007. Month end inventories of 12.4 million tons were 15.1% lower than April 2007 stockpiles and, at current shipping rates, represented a 2.7 month supply.

Steel product shipments from Canadian metals service centers totaled 328,400 tons, a 6.6% increase from shipments in April 2007. Steel shipments for the first four months of 2008 totaled 1.28 million tons, a decline of 0.7% from the same period a year ago. Steel inventories held by Canadian service centers at the end of April totaled almost 1.1 million tons, or 15.2% below year earlier levels and, at current shipping rates, equal to a 3.3 month supply.

The Metals Activity Report, based on data from metals service centers in the United States and Canada, is produced by the Metals Service Center Institute and a third party econometrics and strategy firm, McCoy, Scott & Co.

Founded in 1909, the Metals Service Center Institute has more than 420 members operating from about 1,200 locations in the US, Canada, Mexico, and elsewhere in the world. Together, MSCI members constitute the largest single group of metals purchasers in North America, amounting each year to more than 65 million tons of steel, aluminum, and other metals, with about 300,000 manufacturers and fabricators as customers.

According to the latest Metals Activity Report from US based Metals Service Center Institute, US and Canadian metals service centers rebounded in April from unseasonably low levels in March, with year over year shipment increases in nearly all metals categories.

Inventories of both metals remained at levels well below total stocks at the end of April 2007 and were down, as well, from inventories reported at the end of March 2008, with one important exception, the Metals Activity Report from the Metals Service Center Institute shows.

The one exception was inventories of steel products in the United States, which rose slightly, to 12.4 million tons or 2.6% above US steel stocks at the end of March. Metals customers appear to buy only when they need product and service centers have maintained inventories closely aligned with demand.

Shipments of steel products from US service centers rose 3.3% in April, to 4.65 million tons as compared with April 2007. For the year to date, shipments of 17.7 million tons were down 2.8% from volume during the first four months of 2007. Month end inventories of 12.4 million tons were 15.1% lower than April 2007 stockpiles and, at current shipping rates, represented a 2.7 month supply.

Steel product shipments from Canadian metals service centers totaled 328,400 tons, a 6.6% increase from shipments in April 2007. Steel shipments for the first four months of 2008 totaled 1.28 million tons, a decline of 0.7% from the same period a year ago. Steel inventories held by Canadian service centers at the end of April totaled almost 1.1 million tons, or 15.2% below year earlier levels and, at current shipping rates, equal to a 3.3 month supply.

The Metals Activity Report, based on data from metals service centers in the United States and Canada, is produced by the Metals Service Center Institute and a third party econometrics and strategy firm, McCoy, Scott & Co.

Founded in 1909, the Metals Service Center Institute has more than 420 members operating from about 1,200 locations in the US, Canada, Mexico, and elsewhere in the world. Together, MSCI members constitute the largest single group of metals purchasers in North America, amounting each year to more than 65 million tons of steel, aluminum, and other metals, with about 300,000 manufacturers and fabricators as customers.