The anticipated fallout following last week’s filing of antidumping petitions against welded and seamless, finished and unfinished, oil country
tubular goods (OCTG) from India,
Korea, the Philippines, Saudi Arabia,
Taiwan, Thailand, Turkey and the Ukraine has not yet materialized. The same holds true for countervailing duty petitions that were filed against OCTG from India and Turkey. Trader sources, though, anticipate that new futures orders will soon start to wane, as a result of the trade case. For now, import sales prices for unfinished J55 electric resistance welded (ERW) OCTG casing from
Korea,
Taiwan are still being seen in the approximate range of $42.50-$43.50 cwt. ($937-$959/mt or $850-$870/nt), while prices from
Vietnam have remained at $42.25-$43.25 cwt. ($931-$9540/mt or $845-$865/nt), all DDP loaded truck
US Gulf Coast ports. Prices are expected to tick upward, but demand levels will determine when and by how much.
Prices for
US domestic OCTG casing may also begin to firm, especially if imports are no longer a viable option. For now, the most commonly reported spot price range for
US domestic finished J55 ERW OCTG casing has held steady in the past seven days and is still $60.00-$61.00 cwt. ($1,323-$1,345/mt or $1,200-$1,220/nt) ex-Midwest mill. As in previous weeks, deals as much as $3.00 cwt. ($66/mt or $60/nt) lower are available to those wanting to book larger tonnages.