On Friday, the US Department of Commerce (DOC) announced the preliminary results of its administrative review of the countervailing duty (CVD) order on oil country tubular goods (OCTG) from China.
The review covers two companies - Wuxi Seamless Pipe Co., Ltd. and Jiangsu Chengde Steel Tube Share Co., Ltd. - during the period of calendar year 2011.
The DOC has preliminarily determined countervailing duty margins of 7.33 percent for Wuxi Seamless Pipe and 1.84 percent for Jiangsu Chengde. The current countervailing duty deposit rates are 14.95 percent for Wuxi Seamless pipe and 13.41 percent for Jiangsu Chengde.
The DOC plans to complete this administrative review by June 2013. Until that time, the current countervailing duty deposit rates will remain in effect. Any change in the deposit rates as a result of this review will become effective only when the DOC's final results are published in the Federal Register.
There is also an antidumping order on OCTG from China, and the dumping duty deposit rates are 99.14 percent for Wuxi Seamless Pipe and 162.69 percent for Jiangsu Chengde.