New futures offers for unfinished J55 electric resistance welded (ERW) oil country
tubular goods (OCTG) casing are mostly silent, although
Korea and
Taiwan are still quietly offering in the
US in the approximate range of $42.50-$43.50 cwt. ($937-$959/mt or $850-$870/nt) DDP loaded truck
US Gulf Coast ports, according to trader sources. Some larger distribution centers are still placing import orders with
Korea and
Taiwan before prices increase--with the
US Department of Commerce officially initiating the probe into OCTG imports Tuesday from all nine countries named in the suit, any import offers from the countries involved are anticipated to swing upward. It is still suspected that imports from Western European countries will begin to emerge before the close of 2013, but no new offers have been heard yet.
Meanwhile, prices for
US domestic OCTG casing have continued to trend sideways. The most commonly reported spot price range for
US domestic finished J55 ERW OCTG casing has remained in the approximate range of $60.00-$61.00 cwt. ($1,323-$1,345/mt or $1,200-$1,220/nt) ex-Midwest mill, reflecting no change in the past seven days. As in previous weeks, deals as much as $3.00 cwt. ($66/mt or $60/nt) below that range can be negotiated by those looking to book larger tonnages.