Much has changed since the announcement of the US OCTG trade case final determinations, as a number of offshore producers have been knocked out of the market, opening up channels for new players to enter the game. US import tonnages for the month of August could be telling in terms of which countries may begin to court domestic bookings. The most recent US import license data show that for the month of August, US OCTG tonnages from Korea came in at 102,335 mt, with the second most significant importer being Japan, at 19,894 mt. The next two most significant importers were Austria and Germany, who came in at 19,758 mt and 17,758 mt, respectively. Although mills out of Saudi Arabia and Brazil came in at 9,106 mt and 6,352 mt, respectively, the rumor is that both countries are actively pursuing US market share, which could change things up in the upcoming months.
In terms of current offer prices, everything has remained steady in the past seven days. Futures offers from Taiwanese and Korean mills have remained in the approximate ranges of $51.00-$52.00 cwt. ($1,124-$1,146/mt or $1,020-$1,040/nt) and $52.00-$53.00 cwt. ($1,146-$1,168/mt or $1,040-$1,060/nt), respectively, both DDP loaded truck in US Gulf coast ports, with sources close to SteelOrbis saying Brazilian mills may be willing to negotiate deals well below that range for those looking to book hefty tons. US domestic prices have also trended sideways, at $59.00-$61.00 cwt. ($1,300-$1344/mt or $1,180-$1,220/nt) ex-Midwest mill, although US service centers say they have seen an uptick in demand since the final determinations have been announced.