In the wake of the recent AD/CVD margin announcements in the
US OCTG trade case, Indian mills, who have essentially been knocked out of that market, have set their sights on line pipe. The most recent offers from Indian mills are on par with what’s being seen from Taiwanese and Vietnamese mills, which continue to quote futures offers at $38.50-$39.50 cwt. ($849-$871/mt or $770-$790/nt) DDP loaded truck
US Gulf coast ports. Korean offers are also unchanged in the past week, still coming in at approximately $39.50-$40.50 cwt. ($871-$893/mt or $790-$810/nt) DDP loaded truck
US Gulf coast ports. That, however, could soon change. Offshore mill reps have started to tell traders that they are now hearing a line pipe trade case could happen in the next three to four months, and in light of that, prices are likely to firm. “Mills are worried that if they offer aggressively that it could come around and bite them in the backside,” said one Midwest trader. “If raising prices is what they need to do, producers seem to be willing to do whatever it takes to try to ward things off.”
In terms of
US domestic offers, those continue to be offered at approximately $51.00-$52.00 cwt. ($1,124-$1,146/mt or $1,020-$1,040/nt) ex-Midwest mill, although it is still rumored that deals slightly below this range are available to anyone looking to book hefty tons.