US domestic OCTG mills are feeling a bit more rosy in the past seven days, as rumors that Korean mills could be hit harder than expected in the pending antidumping (AD) and countervailing duty (CVD) trade case continue to permeate the market. Although the final announcement will not come out until mid-July, most market players are sitting on the edges of their seats in watchful anticipation. And although the most commonly reported US domestic spot price transaction range for unfinished J55 ERW oil country tubular goods (OCTG) casing is unchanged in the past week, still at $59.00-$61.00 cwt. ($1,300-$1344/mt or $1,180-$1,220/nt), ex-Midwest mill, that range could start to creep up if offshore producers are knocked out of the market.
In term of offshore offerings, prices from Korean and Taiwanese mills have also trended neutral in the past week, with offers from second and third-tier mills coming in at approximately $42.50-$43.50 cwt. ($937-$959/mt or $850-$870/nt), DDP loaded truck US Gulf coast ports. Offers from first-tier mills, however, are still quoting as much as $4.00-$5.00 cwt. ($88-$110/mt or $80-$100/nt) higher.