Is U.S. Gasoline Consumption Overstated?
Strong growth in U.S. gasoline consumption has been one of the most important factors supporting oil prices in 2016, but some analysts question whether the official data is overstating the strength of gasoline demand. U.S. gasoline consumption has been running at a record seasonal rate since February, according to weekly data published by the Energy Information Administration (EIA) in its "Weekly Petroleum Status Report" (WPSR). But the consumption figures are so high that some analysts question whether the gasoline is actually being exported rather than consumed domestically (http://tmsnrt.rs/1ROcfvl).
US to Place Duties on China, Taiwan Solar Imports
The U.S. International Trade Commission said on Wednesday imports of solar products from China and Taiwan injure U.S. producers, clearing the final hurdle for import duties on the goods. ITC commissioners voted in favor of the complaint brought by the U.S. arm of German solar manufacturer SolarWorld AG in a bid to close a loophole that let Chinese producers sidestep duties imposed in 2012. The decision gives the U.S. Commerce Department the green light to impose anti-dumping duties as high as 165.04 percent for Chinese goods and 19.5 percent for Taiwanese goods. Separate anti-subsidy duties of up to 38.72 percent apply for Chinese goods.
US Confirms Duties on China's Refrigerant Imports
The U.S. Department of Commerce confirmed steep duties on imports of refrigerant gas from China on Wednesday, saying the goods were sold too cheaply in the United States and were produced using Chinese government subsidies. Final duties on the gas known as 1,1,1,2-tetrafluoroethane, used in air conditioning systems, will range from 282.54 percent to 303.42 percent, taking both anti-dumping and anti-subsidy duties into account, according to a statement from Commerce. Companies affected include Jiangsu Bluestar Green Technology Co, Shandong Dongyue Chemical Co Ltd, T.T. International Co and Zhejiang Sanmei Chemical Industry Co Ltd .
US Steel Producers Win Anti-dumping Case
The United States has approved anti-dumping duties against South Korea and other producers of steel pipes for the energy sector, a victory for domestic producers hoping to benefit from a boom in the U.S. shale oil and gas industry. U.S. steel companies lodged a complaint in 2013 as foreign manufacturers cashed in on soaring U.S. energy infrastructure demand. Imports doubled last year and accounted for nearly two-thirds of the domestic market, according to the American Iron and Steel Institute. Although subject to appeal, the decision puts the U.S. Department of Commerce closer to imposing tariffs as high as 118 percent on "oil country tubular goods" (OCTG).
US Postpones Vote in Oil-Country Steel Pipe Case
The U.S. International Trade Commission has postponed until Aug. 22 a vote planned for Thursday on whether to impose hefty duties on imports of steel pipe used in the oil and gas industry from South Korea, India and elsewhere, a commission spokeswoman said. (Reporting by Elvina Nawaguna and Ros Krasny; Editing by Bill Trott)
