NASPD Fall Conference October 1-3, 2009

InterContinental Hotel – Chicago, IL

“The Battle Against China Continues”

Roger B. SchagrinSchagrin Associates

How Does the World Trading System Handle

One Mercantilist Economy and Other Free Trade Oriented Economies

Can the World Economy Thrive as the

Second Largest Economy Manipulates

its Currency?

United StatesTight Credit

ChinaUnlimited Credit

Source: The New York Times – “Recovery Picks Up in China as U.S. Still Ails.” September 17, 2009

“The Battle Against China Continues”DOC AD/CVD Final on Circular Pipe and Mechanical Tubing

Light Walled Rectangular Pipe and Tube from China, Antidumping and Countervailing Margins

  Antidumping Countervailing

Lets Win 249.12 2.17

Quingdao Xhingxing 249.12 200.58

ZZPC 264.64 15.28

Separate Rate 249.12 15.28

Countrywide Rate 264.64 15.28

Circular Welded Carbon-Quality Steel Pipe and Tube from China, Antidumping and Countervailing Margins

  Antidumping Countervailing

Yulong 85.55 44.86

Shuangjie 85.55 615.92

China wide 85.55 37.22

Separate Rate 69.22 37.22

East Pipe 69.22 29.57

Kingland 69.22 44.86

“The Battle Against China Continues”

DOC AD/CVD Final on Circular Pipe and Mechanical Tubing

Circular Welded Small Diamter Line Pipe from China, Antidumping and Countervailing Margins

  Antidumping Countervailing

Huludao Companies 73.87% 31.29

Liaoning Northern Steel Pipe Co., Ltd. 73.87 40.05

All Others Rate 101.10 35.67

Welded Stainless Pressure Pipe from China, Antidumping and Countervailing Margins

  Antidumping Countervailing

Winner Companies 55.21 1.10

Froch Enterprise Co., Ltd. (Zhangyuan Metal Industry Co., Ltd. 55.21 299.16

Zhejiang Jiuli Hi-Tech Metals Co., Ltd. 10.53 1.10

All Others Rate 55.21 1.10

“The Battle Against China Continues”Circular Welded Pipe from China1

Import Volume (Net Tons)

2005 2006 2007 2008

348,122 715,728 748,181 8,607

Circular Welded Line Pipe from China2

Import Volume (Net Tons)

2005 2006 2007 2008

27,673 224,357 280,820 118,131

Light Walled Rectangular Tubing3

Import Volume (Net Tons)

2005 2006 2007 2008

39,945 81,657 88,879 632

Welded Stainless Pressure Pipe4

Import Volume (Net Tons)

2005 2006 2007 2008

14,394 23,712 30,371 6,700

1 Case filed June 7, 20072 Case filed April 2, 20083 Case filed June 27, 20074 Case filed January 28, 2008

OCTG CVD Preliminary Margins

1) Changbao – 24.33%

2) TPCO – 10.90%

3) Wuxi Seamless – 24.92%

4) JianLi – 30.69%

5) All Other – 21.33 %

Issued by the U.S. Department of Commerce on September 9, 2009