Although the
US Department of Commerce this week announced preliminary critical circumstances determinations in the countervailing duty (CVD) investigations of oil country
tubular goods (OCTG) from
India and
Turkey, final injury determinations from the International Trade Commission (ITC), are not expected to come until May. Traders tell SteelOrbis that it’s very difficult to prove critical circumstances at the ITC level, and affirmative determinations “almost never happen.” As such, there has not been much of a market reaction to the news, and Korean offers remain the only ones left standing. Offer prices for finished J55 ERW OCTG casing to the
US are unchanged in the past week and are still 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.
Meanwhile, those within the domestic market still have all ears to the ground with regard to the AD/CVD case, as large dumping and/or subsidy determinations against offshore producers named in the case would firm
US prices. For now, spot pricing for finished
US domestic J55 ERW OCTG casing has held steady in the past week, at approximately $59.00-$61.00 cwt. ($1,300-$1344/mt or $1,180-$1,220/nt), depending on the grade, availability and the size of the order.