Will the line pipe trade case final determinations help market prices?

Monday, 05 October 2015 10:15:18 (GMT+3)   |   San Diego
       

Buyers and sellers of US domestic and import API X-42 ERW line pipe have long awaited the final determination announcement in the anti-dumping trade case against imported line pipe from Turkey and Korea.  The Department of Commerce had previously stated the final determinations would be announced by the end of September. The preliminary margins against Korean producers were between 2.52 and 2.76 percent, while listed margins against Turkish producers were between 3.11 percent and 9.85 percent.  The market, however, is still waiting on the final determination to be released.

Market sources, however, expect the final determination announcement will do little to spur activity.  Oil prices remain soft and rig counts continue to decline.  In terms of domestic prices, those remain steady at approximately $45.00-$46.00 cwt. ($992-$1,014/mt or $900-$920/nt), but as with previous weeks, deals well below this range are available to buyers who would be interested in placing larger-sized orders.   Prices for on-the-ground in-stock API X-42 are very negotiable.  In terms of futures, trader sources have reported seeing futures offers from Taiwanese producers as low as $25.50-$26.50 cwt. ($562-$584/mt or $510-$530/nt), DDP loaded truck in US Gulf coast ports, but, as with last week, interest in booking futures is bland.


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