A key report within the Section 232 investigation may be due in mid-January, but sources close to SteelOrbis believe that the findings in any such report will be anticlimactic.
Last week, SteelOrbis reported that news outlets are indicating the US government is considering exclusions for Mexico, Canada, Japan and South Korea, and since those countries are among the most significant sources of US import OCTG, any exclusions to import tariffs or restricted tonnages from those countries would not be impactful, a source said.
“All this Section 232 stuff has been going on for months, but it seems like it’s all symbolic at this point. If it plays out like a lot of us think it will play out, if places like South Korea are excluded, it’s not going to have much of an impact,” a source said.
For now, prices remain neutral. Pricing for import J55 ERW OCTG casing from Taiwan in the US domestic market is still being heard at $41.00-$42.50 cwt. ($904-$937/mt or $820-$850/nt), DDP loaded truck in US Gulf coast ports, while spot market prices for US domestic J55 ERW OCTG casing remains in the range of $47.50-$50.00 cwt. ($1047-$1102/mt or $950-$1000/nt), ex-mill.