United States Steel (X) said late Thursday it was encouraged by the US Commerce Department's preliminary findings regarding the import of oil country tubular goods imported from Argentina and Mexico.
The company said the regulator has found that such products imported by Tenaris' (TS) Argentine and Mexican divisions were dumped in the US market at rates of 6.80% and 30.38%, respectively, during 2022 and 2023.
The company said that until Commerce calculates a dumping margin, all imports of Tenaris' Argentine OCTG remain subject to 78.3% cash deposits and an annual quota of 148,000 metric tons. Mexican OCTG are subject to 44.93% cash deposits.
"We are encouraged by the Commerce Department's diligence in enforcing trade laws in its review of Mexican OCTG, but have concerns that Argentine OCTG is being dumped at much higher levels than the preliminary rate," said Duane Holloway, US Steel's senior vice president, general counsel and chief ethics and compliance officer.
Tenaris did not immediately reply to MT Newswires' request for comment.
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