USS sees opportunity in premium OCTG

Jul 31, 2014 | 09:04 AM | Michael Cowden

Tags  U.S. Steel, Mario Longhi, oil country tubular goods, OCTG, premium connections, drill rig count, steel pipe, steel tube Michael Cowden

CHICAGO — U.S. Steel Corp. should benefit from increased demand for premium tubular products even as the market struggles to work off a glut of commodity-grade welded oil country tubular goods (OCTG), the company’s top executive said.

Electric-resistance welded (ERW) product inventories will likely "remain abundant" in the third quarter despite the U.S. Commerce Department recently assessing dumping margins on material from South Korea, U.S. Steel president and chief executive officer Mario Longhi said during a July 30 conference call with analysts. That inventory overhang in ERW is due to both offshore offerings and "additional domestic capacity."....

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