The U.S. ITC has ruled that Chinese exports of stainless steel pipe flanges have been subsidized, allowing duties to be applied. They have not been part of the broader section 232 review of the industry. Imports fell 20% in the first quarter sequentially, yet that was due to a 37% drop in Indian exports not Chinese. Yet, in April imports from China slumped 57% from the 1Q average, suggesting the duties will have an effect. It’s American buyers that will lose out, with average import costs per ton up 15% sequentially in 1Q to November 2015’s highs.