South Korean OCTG said to be in doms’ trade-case cross hairs (again)

Mar 21, 2010 | 07:00 PM | Michael Cowden

South Korean oil country tubular goods (OCTG) are in the cross hairs of a potential trade case, with domestic mills waiting until the OCTG trade case against China is completed to pull the trigger.

Or that's what the gossip mill would have Perspectives believe.

We know, we know, this rumor pops up with annoying persistence—about once a month, almost like clockwork, and for at least the last few months if we're remembering correctly. (We're not sure who starts these rumors—but they seem to be very systematic about it.)

Perhaps we shouldn't, but we're giving the old gossip mill more credence this time around because we're hearing roughly the same thing from a range of distributors and traders, some of whom would love to see South Korea out of the market and some who have absolutely had it with trade cases in the energy tubulars sectors.

And we also think you should at least keep the possibility in mind—especially with the U.S. Dept. of Commerce slated to release its final anti-dumping (AD) determination on Chinese OCTG on April 9, according to a Commerce spokesman. That's practically right around the corner. And as chance would have it, that is almost a year to the day from when domestic mills filed their case against Chinese imports of OCTG. (They submitted their filing on April 8, 2009.)

"The domestic mills are looking at (South Korean imports) and they are not happy. The Korean numbers were pretty cheap," one trader said. "They could nail them now with a threat (of injury) case."....





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