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Borusan Mannesmann gets tariff refund, still faces oil price weakened pipe demand

Materials - Metals/Mining 635 Metals - Steel 438 South Korea 510 Tariffs 1648 Turkey 52 U.S. 4634

Borusan Mannesmann will receive a refund of tariffs paid to the U.S. government after a ruling that the Turkish steel producer should not have been made subject to a sanctions-based increase in section 232 national security tariffs by the Trump administration. The firm will still be subject to 25% tariff rates like other suppliers of steel pipes. U.S. imports of steel from Turkey surged 141% higher year over year in the three months to Aug. 31, perhaps indicating a return to supplies ahead of the ruling. The demand for imports of steel pipes used in the oil industry, which Borusan Mannes...

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