US finds OCTG imports harm domestic industry

The US International Trade Commission (ITC) has determined that oil country tubular goods (OCTG) imports from four countries materially injure domestic producers.

The ITC determined that OCTG imports of three casing products from Argentina and Mexico were imported at less than fair value. OCTG imports from Russia were determined to be imported at less than fair value and with government subsidies, while South Korean OCTG imports were said to be subsidized by the South Korean government.

All related imports were said to harm the US OCTG industry.

The largest volumes came from South Korea, from which the US imported 460,000 metric tonnes (t) in 2021 of the three products, making up 44pc of the 1.05mn t of total product imports from the four investigated countries, according to US Department of Commerce data.

US imports of the products from the rest of the world totaled 1.64mn t in 2021.

For that year, the US imported 312,000t from Mexico, while receiving 148,000t and 133,000t from Argentina and Russia, respectively.

Imports in 2021 were more than double the rate in 2020.

Through September, the latest month where data is available, total imports of the OCTG products from the four countries stood at 664,000t, while total imports from the world including the four countries was 1.67mn t.

As a result of the decision, The US Commerce Department will apply antidumping duties of 78.3pc on Siderca S.A.I and all other Argentinian suppliers, meanwhile Mexican supplier Tubos de Acero de Mexico and all others will receive a 44.93pc duty rate.

Imports from Russian supplier TMK/VTZ will be subject to a 184.21pc antidumping rate and 1.3pc in countervailing duties, while JSC Vyksa Steel Works received a 1.59pc countervailing rate and a 12.84pc antidumping rates. All other Russian suppliers received a 12.84pc antidumping rate and a 1.43pc countervailing duty rate.

South Korean supplier Hyundai Steel received a 0.25pc countervailing rates while SeAH Steel and all other South Korean suppliers were applied a 1.33pc countervailing rate.

By Rye Druzin