Longhi rips Commerce OCTG probe vs. Korea
Jun 26, 2014 | 01:24 PM
| Thorsten Schier
NEW YORK U.S. Steel Corp.s top executive added his weight to the barrage of fire against the ongoing anti-dumping investigation on oil country tubular goods (OCTG) from South Korea, blasting the U.S. Commerce Departments International Trade Administration (ITA) in testimony before the Senate Finance Committee.
"Since South Korea has no market for OCTG, the Department of Commerce must construct values of production costs and profit margins," president and chief executive officer Mario Longhi said June 25.
"In this case, foreign producers have advocated for the (department) to construct profit margins based on Korean non-OCTG products sold in their home market ... using inferior construction-grade steel pipe," he said. "This is not even an apples and oranges comparison; this is akin to comparing a scooter to a sophisticated motorcycle. Just because they have wheels, their use is neither similar nor substitutable."....
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