Steel Products Prices North America

DOC Closes Loophole on OCTG Imports from China
Written by Sandy Williams
February 13, 2014
The US Department of Commerce said it will maintain anti-dumping and countervailing duties on oil country tubular goods (OCTG) imported from China, in announcement made earlier this week.
The recent decision closed loopholes in the 2009 AD/CV duties imposed by the International Trade Commission, which allowed pipe made in China but finished in other countries to slip through trade enforcement rules.
Commenting on the decision, The American Iron and Steel Institute said, “We are very pleased that the Department of Commerce has taken this significant step in working to prevent foreign companies from circumventing U.S. trade laws pertaining to steel imports. The U.S. laws against unfair trade exist to counter market-distorting practices and restore conditions of fair trade. U.S. companies and their workers deserve to have a fair shake, and we applaud this decision in addressing the problem of unfairly traded OCTG imports.”
In 2012, U.S. Sens. Sherrod Brown (D-OH) and Rob Portman (R-OH) led a group of senators in encouraging the Department of Commerce to maintain the AD/CV duties to protect steel companies, such US Steel and Vallorec Star in Ohio, from illegal Chinese trade practices concerning steel pipe imports. The two senators sent a letter to the DOC in May 2013 and, most recently, in November 2013 urging the DOC to close the loopholes that changed “country of origin” from China to the country where the pipes received finishing treatment and threading or coupling.
“The Commerce Department’s ruling is excellent news for Ohio’s workers and manufacturers like those at U. S. Steel and Vallourec Star,” said Brown. “This decision makes it clear that countries like China can’t use loopholes to circumvent international law and evade anti-dumping and countervailing duties. Our steelmakers can compete with anyone in the world, and now we’ve taken a step towards leveling the playing field and protecting domestic jobs.”
“This ruling is an important step forward in ensuring that American manufactured goods can compete with their global competitors on a level playing field,” said Portman. “This is good news to the thousands of American workers who were threatened from the risk of watered-down protections which would have allowed cheap Chinese products to flood our domestic markets.”

Sandy Williams
Read more from Sandy WilliamsLatest in Steel Products Prices North America

Market says cutting interest rates will spur stalled domestic plate demand
Market sources say demand for domestic plate refuses to budge despite stagnating prices.

SMU Price Ranges: Some predict bottom is near as big discounts dry up
Sheet prices were mixed this week as some mills continued to offer significant discounts to larger buyers while others have shifted toward being more disciplined, market participants said.

SMU Price Ranges: Tags mixed as uncertainty weighs on market
SMU’s hot-rolled (HR) coil price held steady this week while prices for other sheet and plate products declined.

Nucor spot HR list price unchanged at $875/ton
Nucor kept its weekly list price for hot-rolled (HR) coil unchanged this week, following a price bump of $10 per short ton (st) last week.

SMU price ranges: Flat-rolled balloon continues to leak
Sheet and plate prices were flat or lower again this week on continued concerns about demand and higher production rates among US mills.