The situation within the
US domestic and import J55 electric resistance weld (ERW) oil country tubular goods (OCTG) markets is on par with what was seen a week ago, as volatility in global oil prices continues to hinder the market. Ex-mill pricing is mostly stable, at $42.50-$43.50 cwt. ($937-$959/mt or $850-$870/nt) for those looking to place larger-sized orders, with Korean futures prices still being offered at approximately $32.50-$33.50 cwt. ($717-$739/mt or $650-$670/nt), DDP loaded truck
US Gulf Coast ports. In-stock, on the ground import J55 ERW OCTG casing, however, is being sold at deep discounts, according to trader sources. Buyers also question what will happen in November, when the
US Department of Commerce files its response to the
US Court of International Trade with regard to dumping margins against Korean producers, and whether any downward revisions will take place.