Steel names surge as U.S. slaps duties on steel pipe imports from South Korea

|By:, SA News Editor

U.S. Steel (X +3.2%) and other steel stocks surged near the close after the U.S. Commerce Department set duties of up to 15.75% on steel pipe from South Korean and eight other countries used in the oil and natural gas industry.

The action reverses an earlier decision after the U.S. steel industry filed a complaint that it was being hurt by unfair competition from overseas.

AKS +0.6%, NUE -0.5%, STLD +1.2%, RS +0.4%, SCHN +2%.