Sources close to SteelOrbis say that Korean mills have stepped away from offering J55 ERW OCTG casing in the
US domestic market until the results of the Section 232 investigation become clearer.
Other trader sources say they have stopped seeking quotes from offshore mills because “it’s pointless to book something today with the idea that it will probably have to be renegotiated in a few weeks.”
In terms of current offer prices, the last heard pricing for
US import J55 ERW OCTG casing from Korea in the
US domestic market was $42.50-$44.00 cwt. ($937-$970/mt or $850-$880/nt), DDP loaded truck in
US Gulf coast ports, before applicable antidumping duties from the previously filed antidumping and countervailing duty cases are applied, while previously heard offers for
US import J55 ERW OCTG casing from Taiwan in the
US domestic were heard $0.50 cwt. ($11/mt or $10/nt) below the Korean offer range.