ITA sets dumping duties on S. Korean OCTG

Jul 11, 2014 | 06:48 PM | Thorsten Schier

Tags  oil country tubular goods, OCTG, South Korea, International Trade Administration, ITA, India, Philippines, Saudi Arabia Taiwan

NEW YORK — In a reversal of its preliminary determination, the U.S. Commerce Department’s International Trade Administration (ITA) has imposed dumping margins on imports of South Korean oil country tubular goods (OCTG).

The ITA in its final determination assessed Hyundai Hysco Co. a margin of 15.75 percent and Nexteel Co. Ltd. a 9.89-percent margin compared with zero for both companies in the preliminary decision. All other Korean producers received a 12.82-percent dumping rate.

Korean OCTG maker SeAH Steel Corp.’s Vietnamese subsidiary, SeAH Steel Vina Corp., was assessed a 24.22-percent dumping rate compared with a preliminary rate of 9.58 percent.

"This is good news for the domestic industry. It’s a lot better than expected. This will give some breathing room to the domestic producers," one market source said. While the margins were "higher than expected," they are likely not enough to "keep the Koreans out of the market. But it levels the playing field."

"The subject imports caused substantial material injury to the U.S. industry through pervasive underselling across all product lines," said Alan Price, a partner at Washington-based Wiley Rein LLP and counsel to domestic petitioner Maverick Tube Corp., Chesterfield, Mo., a subsidiary of Luxembourg-based Tenaris SA. "But for the unfair trade, the U.S. industry would have performed much better," he added.....

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