The US Department of Commerce had previously assigned a 2.65 percent preliminary dumping margin against Taiwanese mill Tension Steel Industries Co., Ltd., but has since described that decision as being a result of a “significant ministerial error”. The DOC has since revised that determination, and has reassigned a preliminary weighted-average dumping margin of zero percent. Trader sources, however, say this has not impacted the market, as Tension Steel had been offering unfinished J55 ERW oil country tubular goods (OCTG) casing prior to that decision. In the past week, Taiwanese prices have held steady in the approximate range of $43.00-$44.00 cwt. ($948-$970/mt or $860-$880/nt), DDP loaded truck US Gulf coast ports, with Korean prices also trending sideways at $42.50-$43.50 cwt. ($937-$959/mt or $850-$870/nt) DDP loaded truck US Gulf coast ports.
In terms of the US domestic spot prices market for finished J55 ERW oil country tubular goods (OCTG) casing, that range is also unchanged in the past week and the most commonly heard spot prices are still at approximately $59.00-$61.00 cwt. ($1,300-$1344/mt or $1,180-$1,220/nt), ex-Midwest mill. Those wanting to book significant tonnages, though, may still be able to negotiate deals slightly below that range.