OCTG imports cutting into flat-rolled demand: Longhi

Apr 30, 2014 | 05:06 PM | Michael Cowden

Tags  U.S. Steel, Mario Longhi, oil country tubular goods, OCTG, energy, natural gas, oil, premium connections imports

PITTSBURGH — U.S. Steel Corp. sees better demand ahead for almost all of its flat-rolled customers with the exception of oil country tubular goods (OCTG) producers, the company’s top executive said.

The Pittsburgh-based steelmaker blamed lackluster demand from the OCTG sector on what president and chief executive officer Mario Longhi characterized as "shores."

Less-than-stellar flat-rolled demand from the OCTG sector comes even as market drivers for tubular sales are trending up, Longhi said during an earnings conference call April 30. Unusually cold weather in North America pushed up natural gas prices at the same time that crude oil tags have held at above $100 per barrel—factors that should bolster drilling activity, he said.....

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