Although import offer prices for J55 electric resistance welded (ERW) oil country tubular goods (OCTG) casing from Vietnam, Taiwan and Korea have trended sideways for a second consecutive week, the wide differential between the sales price for offshore and domestic offers is continuing to raise eyebrows. At current, sales prices from all three countries continue to be seen in the range of $44.50-$45.50 cwt. ($981-$1,003/mt or $890-$910/nt) DDP loaded truck in US Gulf ports. On one hand, talks of an antidumping suit are nothing new, and in fact, have been rumbled about for the past 12 months. On the other hand, rumors of such an action are becoming more widespread, with several sources close to SteelOrbis citing a “before the close of October” filing date. For now, though, the situation continues to ebb in a “watch and wait” holding pattern.
Shifting focus onshore, US domestic prices for J55 ERW OCTG casing are still being seen in the range of $63.00-$65.00 cwt. ($1,389-$1,433/mt or $1,260-$1,300/nt) ex-Midwest mill. This reflects no change from our last report a week ago. Buyers say demand, activity levels and order inquiries continue to remain on par with levels seen in recent weeks, as all ears remain to the ground, waiting to see whether the Department of Commerce will be making a definitive move.