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U. S. Steel Reacts to Important Department of Commerce Preliminary Results

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The U.S. Department of Commerce has released preliminary findings regarding oil country tubular goods (OCTG) from Argentina and Mexico. The investigation found that Argentine OCTG from Tenaris' Siderca S.A.I.C was being dumped at a rate of 6.80%, while Mexican OCTG from Tenaris' Tubos de Acero de Mexico was dumped at 30.38% during 2022-2023.

Currently, Tenaris' imports remain subject to cash deposits of 78.3% for Argentine OCTG and 44.93% for Mexican OCTG. Argentine OCTG is additionally subject to a Section 232 quota of 148,000 metric tons annually. U. S. Steel (NYSE: X), which produces billets and seamless OCTG in Fairfield, Alabama, expressed concerns that Argentine dumping rates might be higher than preliminary findings suggest.

Il Dipartimento del Commercio degli Stati Uniti ha pubblicato i risultati preliminari riguardanti i tubi utilizzati per il petrolio (OCTG) provenienti dall'Argentina e dal Messico. L'indagine ha rivelato che l'OCTG argentino dalla Siderca S.A.I.C di Tenaris era oggetto di dumping a un tasso del 6,80%, mentre l'OCTG messicano dalla Tubos de Acero de Mexico di Tenaris 猫 stato scaricato a un tasso del 30,38% durante il periodo 2022-2023.

Attualmente, le importazioni di Tenaris sono soggette a depositi in contante del 78,3% per l'OCTG argentino e del 44,93% per l'OCTG messicano. Inoltre, l'OCTG argentino 猫 soggetto a una quota ai sensi della Sezione 232 di 148.000 tonnellate metriche all'anno. U. S. Steel (NYSE: X), che produce billette e OCTG senza giunzioni a Fairfield, Alabama, ha espresso preoccupazioni riguardo al fatto che i tassi di dumping argentini potrebbero essere superiori a quanto suggerito dai risultati preliminari.

El Departamento de Comercio de EE. UU. ha publicado hallazgos preliminares sobre los bienes tubulares para el petr贸leo (OCTG) procedentes de Argentina y M茅xico. La investigaci贸n encontr贸 que el OCTG argentino de Siderca S.A.I.C de Tenaris estaba siendo vendido a un precio de dumping del 6,80%, mientras que el OCTG mexicano de Tubos de Acero de M茅xico de Tenaris fue vendido a un 30,38% durante 2022-2023.

Actualmente, las importaciones de Tenaris est谩n sujetas a dep贸sitos en efectivo del 78,3% para el OCTG argentino y del 44,93% para el OCTG mexicano. Adem谩s, el OCTG argentino est谩 sujeto a una cuota de la Secci贸n 232 de 148,000 toneladas m茅tricas anuales. U. S. Steel (NYSE: X), que produce lingotes y OCTG sin costura en Fairfield, Alabama, expres贸 su preocupaci贸n de que las tasas de dumping argentinas podr铆an ser m谩s altas de lo que sugieren los hallazgos preliminares.

氙戈淡 靸侂攵電 鞎勲ゴ項嫲雮橃檧 氅曥嫓旖旍潣 靹濎湢鞖 臧曣磤(OCTG)鞐 雽頃 齑堦赴 臁办偓 瓴瓣臣毳 氚滍憸頄堨姷雼堧嫟. 臁办偓 瓴瓣臣 鞎勲ゴ項嫲雮 OCTG電 韰岆倶毽姢鞚 鞁滊嵃毳挫勾 S.A.I.C鞐愳劀 6.80%鞚 雿ろ晳毳犽 韺愲Г霅橁碃 鞛堧姅 氚橂┐, 氅曥嫓旖 OCTG電 韰岆倶毽姢鞚 韸滊炒鞀 雿 鞎勳劯搿 雿 氅曥嫓旖旍棎靹 30.38%鞚 雿ろ晳毳犽 韺愲Г霅橃棃鞀惦媹雼 (2022-2023雲 霃欖晥).

順勳灛 韰岆倶毽姢鞚 靾橃瀰頀堧摛鞚 鞎勲ゴ項嫲雮 OCTG鞐 雽頃 78.3%, 氅曥嫓旖 OCTG鞐 雽頃 44.93%鞚 順勱笀 氤挫旮堨澊 頃勳殧頃╇媹雼. 鞎勲ゴ項嫲雮 OCTG電 霕愴暅 鞐瓣皠 148,000 氙疙劙 韱れ潣 232 臁绊暛 頃犽嫻霟夓棎 頃措嫻頃╇媹雼. U.S. Steel (NYSE: X)鞚 鞎澕氚半欤 韼橃柎頃勲摐鞐愳劀 氩岆爤韸胳檧 氍挫毄鞝 OCTG毳 靸濎偘頃橁碃 鞛堨溂氅, 鞎勲ゴ項嫲雮橃潣 雿ろ晳毳犾澊 齑堦赴 臁办偓 瓴瓣臣臧 鞝滌嫓頃橂姅 瓴冸炒雼 雿 雴掛潉 靾 鞛堧嫟瓿 鞖半牑毳 響滊獏頄堨姷雼堧嫟.

Le D茅partement du Commerce des 脡tats-Unis a publi茅 des conclusions pr茅liminaires concernant les produits tubulaires pour le p茅trole (OCTG) provenant d'Argentine et du Mexique. L'enqu锚te a r茅v茅l茅 que l'OCTG argentin de Siderca S.A.I.C de Tenaris 茅tait vendu 脿 un taux de dumping de 6,80%, tandis que l'OCTG mexicain de Tubos de Acero de Mexico de Tenaris l'茅tait 脿 30,38% durant la p茅riode 2022-2023.

Actuellement, les importations de Tenaris sont soumises 脿 des d茅p么ts en esp猫ces de 78,3% pour l'OCTG argentin et de 44,93% pour l'OCTG mexicain. L'OCTG argentin est 茅galement soumis 脿 un quota de la section 232 de 148 000 tonnes m茅triques par an. U.S. Steel (NYSE : X), qui produit des billettes et des OCTG sans soudures 脿 Fairfield, en Alabama, a exprim茅 des inqui茅tudes selon lesquelles les taux de dumping argentins pourraient 锚tre plus 茅lev茅s que ce que sugg猫rent les conclusions pr茅liminaires.

Das US-Handelsministerium hat vorl盲ufige Ergebnisse zu 枚lbezogenen Rohrprodukten (OCTG) aus Argentinien und Mexiko ver枚ffentlicht. Die Untersuchung ergab, dass argentinisches OCTG von Tenaris' Siderca S.A.I.C zu einem Dumping-Satz von 6,80% verkauft wurde, w盲hrend mexikanisches OCTG von Tenaris' Tubos de Acero de Mexico im Jahr 2022-2023 mit 30,38% gedumpt wurde.

Derzeit unterliegen die Importe von Tenaris einer Kaution von 78,3% f眉r argentinisches OCTG und 44,93% f眉r mexikanisches OCTG. Argentinisches OCTG unterliegt zus盲tzlich einer Kontingentregelung gem盲脽 Abschnitt 232 von 148.000 metrischen Tonnen pro Jahr. U. S. Steel (NYSE: X), das in Fairfield, Alabama, Quadratstangen und nahtloses OCTG produziert, 盲u脽erte Bedenken, dass die argentinischen Dumpingraten h枚her sein k枚nnten als die vorl盲ufigen Ergebnisse vermuten lassen.

Positive
  • Department of Commerce confirms dumping practices by competitors, supporting U.S. Steel's market position
  • Existing high cash deposit requirements (78.3% Argentina, 44.93% Mexico) remain in place
  • Section 232 quota restrictions on Argentine imports provide market protection
Negative
  • Preliminary dumping margins (6.80% Argentina, 30.38% Mexico) are lower than current deposit rates, suggesting possible reduction in trade protection

Insights

This preliminary ruling from the Department of Commerce carries significant implications for U.S. Steel's competitive position in the OCTG market. The findings of continued dumping by Tenaris subsidiaries in Argentina (6.80%) and Mexico (30.38%) validate U.S. Steel's trade complaints. However, the preliminary rate for Argentine imports represents a substantial reduction from the current 78.3% cash deposit requirement, while Mexico's rate also shows a decrease from 44.93%. The maintenance of Section 232 quota restrictions on Argentine OCTG provides additional market protection. This development could impact U.S. Steel's pricing power and market share in the domestic OCTG segment, particularly at their Fairfield operations. The final determination in 2024 will be crucial, as current higher cash deposit requirements remain in effect until then.

The OCTG market is a critical segment for energy infrastructure, particularly in oil and gas drilling operations. U.S. Steel's Fairfield facility plays a strategic role in domestic OCTG supply. The continuation of anti-dumping measures, albeit at potentially lower rates, helps maintain market stability for domestic producers. However, the possible reduction in tariff rates could lead to increased competition from imported OCTG products, potentially affecting pricing dynamics in the U.S. energy sector. The 148,000 metric ton quota on Argentine imports provides a clear ceiling on market penetration, helping protect domestic producers' market share. This ruling's impact on OCTG pricing could affect energy companies' drilling costs and equipment sourcing strategies.

Oil country tubular goods from Argentina and Mexico were found to be dumped in the U.S.

PITTSBURGH--(BUSINESS WIRE)-- United States Steel Corporation (NYSE: X) (鈥淯. S. Steel鈥) today reacted to the U.S. Department of Commerce鈥檚 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鈥 Siderca S.A.I.C and Mexican OCTG produced/exported by Tenaris鈥 Tubos de Acero de Mexico, S.A., continued to be dumped in the U.S. market at rates of 6.80% and 30.38%, respectively, during the 2022-2023 review period.

U. S. Steel鈥檚 SVP, General Counsel and Chief Ethics and Compliance Officer, Duane Holloway, said, 鈥淲e are encouraged by the Commerce Department鈥檚 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. We look forward to continuing to engage in the reviews so that Commerce can calculate fair and accurate dumping margins in their final results next year. As we have for decades, U. S. Steel will continue to lead the domestic industry in the fight against unfairly traded imports on behalf of our steelworkers, communities, and customers.鈥

Until the U.S. Department of Commerce calculates a dumping margin, all imports of Tenaris鈥 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.

U. S. Steel produces billets and seamless OCTG in Fairfield, Alabama, to serve the U.S. energy sector.

About U. S. Steel

Founded in 1901, United States Steel Corporation is a leading steel producer. With an unwavering focus on safety, the Company鈥檚 customer-centric Best for All strategy is advancing a more secure, sustainable future for U. S. Steel and its stakeholders. With a renewed emphasis on innovation, U. S. Steel serves the automotive, construction, appliance, energy, containers, and packaging industries with high value-added steel products such as U. S. Steel鈥檚 proprietary XG3 advanced high-strength steel. The Company also maintains competitively advantaged iron ore production and has an annual raw steelmaking capability of 25.4 million net tons. U. S. Steel is headquartered in Pittsburgh, Pennsylvania, with world-class operations across the United States and in Central Europe. For more information, please visit .

U. S. Steel Media Relations

T - (412) 433-1300

E - media@uss.com

Source: United States Steel Corporation

FAQ

What are the preliminary dumping rates for OCTG imports found by the Department of Commerce for U.S. Steel (X) competitors?

The Department of Commerce found preliminary dumping rates of 6.80% for Argentine OCTG and 30.38% for Mexican OCTG during the 2022-2023 review period.

What are the current cash deposit requirements for OCTG imports affecting U.S. Steel (X)?

Current cash deposit requirements are 78.3% for Argentine OCTG and 44.93% for Mexican OCTG imports.

What is the Section 232 quota limit for Argentine OCTG imports competing with U.S. Steel (X)?

Argentine OCTG is subject to an annual Section 232 quota of 148,000 metric tons.

United States Steel Corporation

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