Tenaris to ‘vigorously’ fight anti-dumping claims

Tenaris plans to “vigorously” fight any assertion by its competitors or the US Department of Commerce that its imports of oil country tubular goods (OCTG) have harmed the United States, the company said in its third-quarter earnings report.

Commerce initiated in late October anti-dumping duty investigations into OCTG imports from Mexico, Argentina and Russia, as well as countervailing duty investigations on OCTG imports from Russia and South Korea.

An anti-dumping petition was filed on October 6 by US Steel Tubular, Borusan Mannesman Pipe, PTC Liberty Tubulars, Welded Tube USA and representatives of the United Steelworkers union.

“Tenaris, which imports OCTG from Argentina and Mexico to complement its production in the United States, believes that the petition is unjustified and intends to vigorously challenge any claim that its imports are causing or threatening injury to the US domestic OCTG industry,” Tenaris said in the earnings release. “At this time, Tenaris cannot predict the outcome of this matter or estimate the potential impact, if any, that the resolution of this matter may have on Tenaris’ business.”

The International Trade Commission is required to make a preliminary determination of injury, Tenaris said. The investigation will be terminated if the ITC determines there is no need to move forward. Otherwise, the investigations will proceed until the DOC and the ITC make final determinations.

“Over the past 15 years, Tenaris has realized substantial investments, more than any other company, in acquisitions and new production to build up a competitive OCTG production system in the United States,” the company said in the release. “We believe we are well placed to continue serving our customers even in case of an adverse resolution of the matter.”

What to read next
Glencore’s Gary Nagle might have spoken too soon when he said that his company wouldn’t be hit by a nickel fraud similar to that seen by its rival, Trafigura
Fastmarkets proposes to amend its steel cut-to-length plate carbon grade, fob mill US assessment to exclude material below 0.375 inches of thickness, which is sold with an added cost by several major mills.
The European Union’s much-anticipated Critical Raw Materials Act, announced on Thursday March 16 by European Commission president Ursula von der Leyen, has set out new lists of the raw materials now formally designated as strategic and critical
The London Metal Exchange is facing lawsuits seeking damages collectively worth more than half a billion dollars for losses that investors allege they suffered as a result of nickel trades being canceled by the exchange last year
The publication of a number of Fastmarkets’ price assessments was delayed on Thursday March 16 for technical reasons.
Continued tightness of class one supply within Europe and increased buying interest amid falling London Metal Exchange nickel prices and fresh liquidity have prompted an increase in premiums within Europe, while US and Chinese premiums remain steady for now
We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.