For the first time since war start, Interpipe sends ship loaded with pipes to United States

The Interpipe Pipe and Wheel Holding sent a vessel loaded with pipes to the United States for the first time since the beginning of the war in July, it plans to send a second vessel in July.

Interpipe CEO Andrii Korotkov said this in an interview for Forbes, Ukrainian News Agency reports.

"At the beginning of the third 10 days of June, for the first time since the beginning of the war, Interpipe sent the first ship with pipes to the USA. I hope that on July 20 we will send the second one. Currently, the USA maintains a 23.75% anti-dumping duty on Ukrainian linear pipes and 27 .8% anti-dumping duty on Ukrainian OCTG products. However, the temporary removal of the 25% duty introduced under Donald Trump increases the economic feasibility of resuming pipe sales to the USA. The increase in oil production in North America has stimulated the rise in pipe prices. Therefore, even paying the anti-dumping duty, the sales efficiency of Interpipe on this market increased by 10%. However, in the May – June period, the increase in the price of pipe products in the US market slowed down," he said.

According to Korotkov, after February 24, Interpipe has not yet shipped steel blanks and railway wheels to the USA due to the increase in the cost of logistics, so far it is not economically feasible.

He added that the cancellation of duties and quotas on Ukrainian goods by the European Union slightly improved the company's sales figures, but the situation in Europe is different: pipe prices have not increased as much as in the USA.

As reported by Ukrainian News Agency, in May, the United States suspended for 1 year the 25% tariff on the import of all types of steel products from Ukraine.

In 2021, Interpipe reduced EBITDA by 16.3% or USD 44.6 million year over year to USD 228.4 million.

In 2021, the company reduced its profit by 2.1 times or USD 103.8 million year over year to USD 91.3 million, and increased revenue by 31% or USD 267.8 million to USD 1.133 billion.

In 2021, the holding increased the sale of pipe and railway products by 17% year over year to 776,000 tons.

In October 2012, Interpipe commissioned the Interpipe Steel steelmaking complex.