US domestic service centers and distribution centers still have their fingers crossed when it comes to the pending trade case announcement against certain offshore producers of J55 electric resistance weld (ERW) oil country
tubular goods (OCTG) casing. Final dumping and/or subsidy determinations are due to come out in the middle part of this month, and many are hopeful the final announcement will help firm domestic market prices. But for now, the most commonly reported spot price transaction range is unchanged in the past seven days and is still in the approximate range of $59.00-$61.00 cwt. ($1,300-$1344/mt or $1,180-$1,220/nt), ex-Midwest mill.
Meanwhile, offer prices for finished J55 ERW OCTG casing to the
US 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, reflecting no change in the past week. Trader sources have said that most companies bought heavy at the end of 2013, and although orders are still being placed, they’ve definitely slowed down, as buyers are taking a wait-and-see approach in light of the pending final determinations announcement.