Russia Imposes Duties On Ukrainian Pipe Exports.

The resolution on antidumping duties will take effect on January 29, 2006 and will last for five years. The set range of the duties is from 8.9% to 55.3% depending on the type of pipe. Pipe exports that will be most affected by the resolution are those of bearing pipes (55.3% duty), tubing (18.1% duty), casing pipes (11.4% duty), boiler pipes (11.3% duty) and oil & gas line pipes with a diameter of up to 820 mm (8.9% duty). Concorde Capital: The duties have not been imposed on five companies associated with the Interpipe group, namely, Nyzhnyodniprovsky Pipe Rolling (NITR: BUY), Novomoskovsk Pipe (NVTR: BUY), NIKO Tube, Nikopol Pipe Company and Nikopol Stainless Pipe Plant. In January 2005 these companies signed a voluntary export restriction agreement with Russia fixing their combined exports to Russia at 395 ths mt in 2005, on par with 2004. In 2006-2009, limits on exports to Russia by these companies will be increased 2% annually. In addition, large diameter pipes (1,420 mm) produced by Khartsyzk Tube (HRTR: SELL) have not been affected by the new duty regulation, as a separate antidumping investigation into their exports to Russia has not yet been completed. All in all, Dnipropetrovsk Pipe (DTRZ: BUY) will suffer the most from the duties imposed, as the company?s product assortment includes bearing and boiler pipes.