NEW YORK If
U.S. oil country tubular goods (OCTG) producers prevail in an
anti-dumping review of imports from nine countries, pricing in
the OCTG market should improve, according to U.S. Steel
Corp.s top executive.
"I think the
investigation will proceed and an affirmative decision should
result in import prices reflecting more of a regular market
condition vs. prices distorted by unfair trade practices,"
president and chief executive officer Mario Longhi said during
the companys third-quarter earnings conference call.
steelmaker does not see enough evidence to invoke critical
circumstances in the case, which is currently before the U.S.
Commerce Departments International Trade Administration
"We have not seen
anybody cross the line that would prompt us to go toward the
critical circumstances argument. Nobodys turned that way
on us. Korean imports picked up a little bit ... this quarter,
but Id say nothing that would jump out as someone really
trying to beat the process," said Dan Lesnak, manager for
In the event of
critical circumstances, anti-dumping duties would be
retroactively imposed 90 days prior to preliminary
determinations in the case, which are set to be made Feb.
U.S. Steel pegs OCTG
inventory at about 2.78 million tons, or about 5.5 months
supply, which Lesnak said is within the normal range.
The import share stood
at 47 percent for OCTG and 49 percent for line pipe during the
quarter, according to a company presentation, compared with 47
percent and 55 percent, respectively, last quarter (
amm.com, July 31).
Total apparent demand
for OCTG rose 5 percent from the prior quarter to 1.77 million
tons, with domestic shipments rising 3 percent while imports,
led by Korea, rose 7 percent, Longhi said.
Line pipe project
awards slowed "considerably" during the period, while demand
for structural tubing remains steady, the company said.