House Members Urge Commerce to Scrutinize Industry Claims of South Korean OCTG Dumping
The Commerce Department should reconsider U.S. industry allegations that South Korean firms are dumping Oil Country Tubular Goods (OCTG) into the U.S. market, said more than 150 House members in a recent letter, led by Steel Caucus leaders Tim Murphy, R-Pa., and Peter Visclosky, D-Ind. The agency ruled in February to not suspend liquidation or impose an antidumping duty cash deposit requirement on South Korean OCTG, after preliminarily finding that South Korean firms did not dump the products (see 14022425).
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Foreign competitors are undercutting U.S. steel producers, as domestic demand for the products grows in tandem with blossoming U.S. shale gas production, said the letter. “Imports of OCTG have doubled since 2008 and increased by 61 percent thus far in 2014 compared to the previous year,” said the letter. “Korea, which has no domestic market for OCTG, accounts for almost half of this import surge.” More than 50 Senators also urged in May Commerce to slap antidumping duties on South Korean OCTG imports to the “fullest extent of the law” in its final determination (see 14051531).