U.S. Steel reacts to Department of Commerce findings on tubular goods

U.S. Steel (X) reacted to the U.S. Department of Commerce’s preliminary findings regarding oil country tubular goods – OCTG – from Argentina and Mexico. In its release, Commerce preliminarily found that Argentine OCTG produced/exported by Tenaris’ Siderca and Mexican OCTG produced/exported by Tenaris’ Tubos de Acero de Mexico continued to be dumped in the U.S. market at rates of 6.80% and 30.38%, respectively, during the 2022-2023 review period. Until the U.S. Department of Commerce calculates a dumping margin, all imports of Tenaris’ Argentine OCTG remain subject to 78.3% cash deposits and Mexican OCTG remain subject to 44.93% cash deposits. Argentine OCTG is also subject to an annual Section 232 quota of 148,000 metric tons.