Added capacity, rising imports worry OCTG mart
Feb 01, 2013 | 02:07 PM
| Thorsten Schier
Tags
OCTG,
pipe and tube,
Borusan Mannesmann,
Benteler Steel,
USA Investment Group,
AMM conference,
drill rigs,
oil
gas
NEW YORK — Looming overcapacity, the timing of a possible trade complaint against South Korea and a comparatively low rig count are on the minds of oil country tubular goods (OCTG) market participants in the run-up to AMM’s sixth annual Steel Tube and Pipe Conference in Houston.
Sources estimate that between 2 million and 3 million tons of annual welded and seamless OCTG capacity is set to be added to the market in the coming years, with a host of companies—including Turkish producer Borusan Mannesmann (amm.com, Jan. 4), Germany’s Benteler Steel/Tube GmbH (amm.com, Nov. 7) and investment firm USA Investment Group LLC (amm.com, Jan. 22)—recently announcing new U.S. projects.....
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