OCTG trade case seen benefiting sheet mart

Jul 03, 2013 | 05:47 PM | Catherine Ngai

Tags  steel sheet, OCTG, trade complaint, Severstal, Nucor, Michelle Applebaum, Chuck Bradford, Catherine Ngai

NEW YORK — U.S. sheet steel producers are expected to see a bump in business as a result of the trade case filed by domestic mills earlier this week against imports of oil country tubular goods (OCTG) from nine countries.

Flat-rolled producers are positioned to benefit from the filing, market participants and analysts said, because the tubing mills they sell substrate to stand to gain business at the expense of foreign mills.

"Anything that arrives in the next couple of months has a big risk attached to it, which means the foreign (OCTG) mills will likely stop shipping or ship much less product," a trader said. "I have to assume this will tighten up the hot-rolled market significantly."

Earlier this week, nine petitioners—including Boomerang Tube LLC, Maverick Tube Corp., TMK Ipsco and U.S. Steel Corp.—filed a trade complaint alleging that imports from India, the Philippines, Saudi Arabia, South Korea, Taiwan, Thailand, Turkey, Ukraine and Vietnam have injured domestic producers (amm.com, June 2). ....

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