Service center sources have indicated that several sellers are “racing to the bottom” with “end-of-year-fire-sale-prices” to move inventory and avoid the year-end-inventory-tax.
Current, on-the-ground import J55 casing from Korea, in some cases, is selling at price points as low as $42.50-$44.50 cwt. ($937-$981/mt or $850-$890/nt), ex-warehouse. Domestic prices have remained consistent, week-over-week, at $50-$55 cwt. ($1,102-$1,213/mt or $1,000-$1,100/nt) ex-mill.
Sources believe that on-the-ground mill stock is dwindling quickly, which could help domestic mills drive prices higher in the new year.