US OCTG market slows into the last weeks of the year

Tuesday, 12 December 2017 22:57:22 (GMT+3)   |   San Diego
       

Activity, pricing and inquiries within the US domestic and import J55 ERW OCTG casing markets have begun to taper off, sources say, adding that the market as a whole is expected to remain sluggish through the end of 2017.

Texas-based sources have confirmed that pricing for import OCTG casing from Taiwan in the US domestic market continues to be 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 are still trending at $47.50-$50.00 cwt. ($1047-$1102/mt or $950-$1000/nt), ex-mill.

It’s further believed that domestic spot pricing will inch upward in 2018, due to forecast increases in scrap and US HRC pricing. There are also questions surrounding a key report within the Section 232 investigation, which is due in mid-January.

News outlets have reported that remedy exclusions are being considered for several countries, including Mexico, Canada, Japan and South Korea, although the final decision will be left in the hands of Donald Trump. Current import OCTG tonnages for these countries are listed in the chart below:

Country October OCTG imports (census data) November OCTG imports (license data)
     
Mexico 26,029 mt 39,426 mt
Canada 22,165 mt 16,131 mt
Japan 3,802 mt 10,464 mt
South Korea  95,661 mt 66,095 mt

 


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