OCTG trade case mulled: Tenaris

Nov 08, 2012 | 04:36 PM | Michael Cowden

Tags  Tenaris, Paolo Rocca, German Cura, OCTG, South Korea imports, trade petition, seamless welded tubing, steel tube steel pipe

CHICAGO — U.S. oil country tubular goods (OCTG) producers are looking closely at a potential trade case against imports from South Korea, Tenaris SA said Thursday.

Low-priced imports from Korea and other countries are pressuring prices in the lower-end segment of the OCTG market in particular, according to executives of the Luxembourg-based steel tube and pipe maker.

In the United States, "the continued high level of imports is putting pressure on the prices of less-differentiated product," Tenaris chief executive officer Paolo Rocca said in a conference call with analysts Thursday following the release of the company’s financial results Wednesday.

Imports account for about 50 percent of the U.S. OCTG market, Tenaris North American area manager Germán Curá said, and Korean material now accounts for about 45 percent of overall U.S. welded imports.....

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