The US Department of Commerce last week announced it reduced the antidumping margins against US import OCTG casing from Korean steelmakers from 9.89- 15.75 percent to 3.98 – 6.49 percent.
Nexteel, Hyundai Hysco, SeAH Steel Corp. and Husteel Co. LTD had previously filed an appeal with the Court of International trade, alleging the DOC incorrectly calculated the mills’ antidumping margins. The petitioners claimed the DOC used the for-profit margin of Tenaris SA to calculate the for profit margins of Korean mills named in the trade suit.
Sources close to SteelOrbis, however, have been quick to note that the US’ lackluster drilling activity, compounded with tepid demand for energy pipe make for less-than-exciting demand.
“Yes we’ve started to see some slight pick-ups in order activity but market recovery is still a long ways out,” one Midwest-source said.
In terms of current offer prices for unfinished, US import oil country tubular goods (OCTG) casing from Korea, that continues to trend at $27.50-$29.50 cwt. ($606-$650/mt or $550-$590/nt), DDP loaded truck in US Gulf Coast ports.
Sept. 2 data from the US DOC, Enforcement and Compliance shows that for the month of August, Korean steelmakers shipped 14,899 mt (license data) of OCTG casing to US ports; in August 2015, Korean OCTC producers shipped 17,125 mt (census data) to the US.