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Steel News September 12, 2014 02:00:28 AM

US Imports of OCTG from South Korea peaked during Aug ‘14

Paul Ploumis
ScrapMonster Author
According to government data released this week, South Korea continues to remain as the top supplier of Oil Country Tubular Goods (OCTG) to the US

US Imports of OCTG from South Korea peaked during Aug ‘14

SPOKANE (Scrap Monster): According to government data released this week, South Korea continues to remain as the top supplier of Oil Country Tubular Goods (OCTG) to the US.

The figures released for the month of August indicates that the total US imports of OCTG from South Korea totaled 90,590 tons, significantly higher when compared with the imports from other countries. The OCTG imports from India stood second with 18,526 tons. In third place was Taiwan with total shipments of 5,500 tons to the US.

Incidentally, South Korea has long been the largest exporter of OCTG to the US. The total OCTG imports from the country were worth nearly $820 billion in 2013, which was more than the combined value of imports from other main supplying countries.

The US International Trade Commission (ITC) had recently ruled that anti-dumping duties would be levied against imports from South Korea, India, Taiwan, Turkey, Ukraine and Vietnam. The ITC ruling is expected to boost the prospects of domestic steel companies in the US. The OCTG imports from countries including South Korea are likely to decline in the coming months.

The dumping of unfairly priced tubular goods from other countries had made market conditions worse for US domestic companies. Consequently, US Steel was forced to idle two of its tubular steel products manufacturing facilities during early-August.

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