Trade Cases
OCTG from Four Countries Now Officially Subject to Import Duties
Written by Laura Miller
October 27, 2022
Oil country tubular goods (OCTG) imports from four countries will now be subject to fresh antidumping and countervailing duties.
The news comes after the US International Trade Commission’s (ITC) final ruling that the US industry is being harmed by OCTG imports from Argentina, Mexico, Russia, and South Korea that are being sold at less than fair value, as well as by unfairly subsidized imports from both Russia and South Korea.
All five ITC commissioners voted in the affirmative that the US OCTG industry is being harmed by these imports, therefore the US Department of Commerce will apply the AD and CVD rates determined earlier this year to the imports.
‘Critical circumstances’ were alleged against Mexico and Russia, but the ITC made negative findings regarding those imports, therefore AD duties will not be applied retroactively before the case was filed last year.
The US petitioners who originally requested the case include Borusan Mannesmann Pipe US, PTC Liberty Tubulars, US Steel Tubular Products, Welded Tube USA, and the AFL-CIO.
The duties will now apply to hollow steel products of circular cross-section including seamless or welded oil well casing and tubing, as well as OCTG coupling stock, and will remain in place for at least five years. As required by law, the duties will be reviewed after five years to determine if they should be continued or allowed to ‘sunset’ or expire.
The OCTG industry, which in the US has been facing an undersupplied market and steep prices for some time now, is a major consumer of flat-rolled steel and plate. According to data from the ITC, there are 18 OCTG producers in the US with annual shipments valued at $2.886 billion. Apparent US consumption is said to be valued at $5.117 billion.
By Laura Miller, Laura@SteelMarketUpdate.com
Laura Miller
Read more from Laura MillerLatest in Trade Cases
Price on Trade: The foolishness of free trade with controlled economies
It was only a matter of time before a shutdown happened. And, no, we aren’t talking about the federal government’s lapse in appropriations. On Oct. 9, Beijing announced a series of restrictions that will effectively shut down exports of rare earth elements, magnets, and certain downstream products vital to advanced manufacturing.
Trump pulls plug on trade talks with Canada after anti-tariff Reagan ad
US President Donald Trump took to social media late Thursday night to announce he was canceling trade talks with Canada.
Leibowitz: Renewed trade war with China over rare earths
On Oct.10, President Trump announced major increases in tariffs on Chinese goods. The trigger was a new regime of export controls on rare earth metals and products using those elements, including magnets, capital equipment, and catalysts for catalytic converters in cars and trucks.
Industry piles on new Section 232 steel derivative inclusion requests
The Department of Commerce received 97 submissions from producers, manufacturers, and groups seeking Section 232 tariff coverage for steel and aluminum derivative products.
Price on Trade: New EU steel tariffs don’t mean the US should weaken its stance
Any steel imports into the EU that exceed the new, lower quota level would be subject to a 50% tariff, which represents a major increase from the EU’s current 25% out-of-quota tariff. This move would largely align the EU’s steel tariff rate with Canada and the United States.