US imports of oil country tubular goods from South Korea peaked

South Korea continues to be the top supplier of oil country tubular goods (OCTG) to the United States, according to government data released this week.

Figures released for the month of August show that total US imports of oil country tubular goods from South Korea reached 90,590 tons, significantly higher than imports from other countries. Imports of OCTG from India, which is in second position, amounted to 18,526 tons. In third place was Taiwan with a total supply of 5,500 tons to the United States.

By the way, South Korea has long been the largest pipe exporter to the United States. Total imports of OCTG from the country reached nearly $ 820 billion in 2013, higher than the combined value of imports of other major supplying countries.

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

American companies believe that the inflow of this product mix at unfair prices from other countries has made the market conditions for domestic producers more difficult. Therefore, US Steel was forced to idle its tubular steel production facility in early August.