The
US domestic and import OCTG markets have held steady in the past seven days, as many continue to have all ears to the ground regarding the pending trade case. The announcement, which is due out mid-February, could be a game changer, especially if margins on Korean unfinished J55 electric resistance welded (ERW) oil country
tubular goods (OCTG) casing are significantly higher than the 5 percent that Korean mills are anticipating. For now, Korean mills continue to offer unfinished J55 ERW OCRG casing 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. In stock, on-the-ground Korean J55 ERW OCTG casing is also still available at approximately $2.50 cwt. ($55/mt or $50/nt) below that range.
In terms of the domestic market, the months-long level pricing trend has continued. The most commonly reported ex-mill transaction range has not wavered in the past week and continues to hold in the approximate range of $58.00-$61.00 cwt. ($1,279-$1,344/mt or $1,160-$1,220/nt), depending on the size of the order. Service center sources say they’re still hopeful that AD margins will be high, especially since it’s believed that if offshore sources are knocked out of the market, domestic prices will firm very fast.