Seeking Alpha

Tenaris, US Steel shares slide as South Korea escapes pipe-dumping duties

  • Tenaris (TS) -5.5% premarket in a move attributed to reports that the U.S. decided not to impose anti-dumping tariffs on oil and natural gas pipe products from South Korea.
  • South Korea shipped 894K tons of tubular goods to the U.S. in 2013, but the Commerce Department did not levy anti-dumping duties on that country's producers because it ruled their prices weren't below what steel was being sold for in the American market.
  • US Steel (X), -3% premarket, says it is disappointed by Commerce's "failure to deal with important issues at this stage of the investigations."
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