Tenaris, together with a group of producers of pipes for oil transmission in the United States also formed by Vallourec and Us Steel, reportedly filed a complaint yesterday against the producers of nine countries (South Korea, India, Turkey, Vietnam, Philippines, Taiwan, Saudi Arabia, Thailand and Ukraine) at the American International Trade Administration.
Local producers are accused of acting under unfair competition, due to illicit government subsidies, and of practicing dumping, or the underselling of goods. The news of the complaint gave wings to the share of Tenaris which, in a very negative day for European lists, gained almost 8% in Piazza Affari, signaling itself as the best share of the Ftse Mib.
