October 18 data from the
US Department of Commerce, Enforcement and Compliance indicates that for the month of August, the
US imported 14,869 mt (census data) of oil country goods from Korean steelmakers; in contrast, in August 2015 Korean steelmakers shipped 17,125 mt of oil country goods to
US Gulf coast ports.
For the month of Sept. 2016, Korea shipped 17,137 mt (census data) of oil country goods to the
US, whereas in Sept. 2015, Korean steelmakers shipped 19,964 mt (license data) of oil country goods to
US Gulf coast ports.
In terms of current prices, pricing for unfinished, import oil country
tubular goods
tubing from Korea in the
US domestic market has maintained its sideways trend since our last report a week ago, at $33.50-$34.50 cwt. ($739-$761/mt or $670-$690/nt), DDP loaded truck in
US Gulf coast ports.
Sources close to SteelOrbis, however, say pricing for import oil country
tubular goods OCTG
tubing from Korea in the
US domestic market could begin to firm in the near future due to recent global upticks in raw materials costs.