New York, February 21, 2014 -- The Department of Commerce (DOC) has issued its preliminary determination on antidumping duties that will be assessed against nine countries that import oil country tubular goods (OCTG) into the United States. The duties range from 3% to 118% on eight of the nine countries being investigated. However, the preliminary duties were below 10% for most countries and no duties were assessed against South Korea, which is the largest importer of OCTG into the United States. South Korea accounted for about 30% of OCTG imports and about 15% of domestic consumption in 2013. The preliminary determination is clearly disappointing for the domestic OCTG industry and Moody's believes it is credit negative for the OCTG producers and distributors.

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