Many offshore producers of unfinished J55 electric resistance weld (ERW) oil country
tubular goods (OCTG) casing continue to maintain their dumping and/or countervailing duty margins will be low once DOC makes their final determination, but
US domestic mills are singing a different tune. In late November, Turkish mills said they were confident that no AD or CVD will be decided in the current investigations, and Korean mills have said they believe their margins will be less than 5 percent. Domestic mills, however, seem to think antidumping margins will fall between 25 and 30 percent, although the final AD margins will not be determined until February 12, 2014. For now, Korean mills continue to offer in the approximate range of $47.25-$48.25 cwt. ($1,041-$1,063/mt or $945-$965/nt) DDP loaded truck in
US Gulf ports. Prices for Korean on-the-ground unfinished J55 ERW OCTG casing have become increasingly malleable, now at $42.50-$43.50 cwt. ($937-$959/mt or $850-$870/nt), although in both cases, deals can be easily negotiated by those interested in placing larger orders.
Meanwhile, the
US domestic market has been relatively quiet as buyers and sellers seen to be most focused on the upcoming holiday. Some service center sources have said they’ve seen a slight uptick in orders in the past week, not because people are making stock buys, but because it’s needed for immediate projects. As with last week, the most commonly reported spot price range is still in the approximate range of $58.00-$61.00 cwt. ($1,279-$1,344/mt or $1,160-$1,220/nt) ex-Midwest mill, depending on the size of the order.