Factors at play, but USS idlings may lift OCTG

Jun 03, 2014 | 03:46 PM | Thorsten Schier

Tags  U.S. Steel, plant idling, oil country tubular goods, OCTG, McKeesport, Bellville, Thorsten Schier

NEW YORK — The idling of two U.S. Steel Corp. oil country tubular goods (OCTG) plants could have a positive impact on the domestic energy tubular market, although a variety of other factors will also play a role in whether prices improve, sources said.

"Anytime somebody takes any capacity off the market, that can only help. Whether it’s enough to make a serious dent needs to be seen, as that depends on how everybody else behaves and on how the final Department of Commerce decision (in an OCTG anti-dumping case) turns out," one trader said, referring to a trade petition against nine OCTG-producing nations, including South Korea.....

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