Prices, order activity and inquiries within the
US domestic and import standard pipe markets have continued to walk the same line they were walking two weeks ago, as
US domestic spot prices have held at $47.00-$48.00 cwt. ($1,036-$1,058/mt or $940-$960/nt) ex-Midwest mill, while futures offers from
Taiwan and
Vietnam have remained in the respective ranges of $38.50-$39.50 cwt. ($849-$871/mt or $770-$790/nt), and $39.00-$40.00 cwt. ($860-$882/mt or $780-$800/nt), both DDP loaded truck in
US Gulf Coast ports. What is of note, though, is that since the
US DOC has announced the final results of its administrative review of the CVD order on standard pipe from Turkey; the countervailing duty deposit rates remained zero percent for Borusan and Erbosan and 0.83 percent for Toscelik as the result of this administrative review, reflecting no change from the rates that were previously in place.
“Nothing has changed,” according to trader sources, “and things aren’t expected to change unless line pipe case is filed.” If that happens, countries named in the suit may shift focus to peddling standard pipe. As for the domestic market, as long as raw materials prices hold steady, Grade A standard pipe prices will continue to hold their course.