Anti-Dumping Ruling Good For Domestic OCTG

The US Commerce Department’s decision to levy anti-dumping duties of up to 15.75% on Korean exporters of oil country tubular goods (OCTG; a family of supplies used for drilling) is being seen as a boon for domestic steel producers, but it may not have a big enough impact in the near term to dramatically change the market’s view on specific OCTG producing stocks. “While this is a plus for TS, we maintain our Neutral rating on the shares as we don’t expect a sharp near-term rise in pricing and we see better opportunities in other service names,” write Sterne Agee…