Sources within the US import OCTG market say they’re still adapting to what’s being described as the “new normal,” although everyone believes the landscape could change markedly between May 1-5.
Current Section 232 tariffs exemptions are set to expire on May 1, and despite the Trump administration’s goal of revising NAFTA in its entirety by that same deadline, it does not appear that a new deal may be signed by the cutoff time.
“God only knows what the heck is going to happen between May 1 and May 5. At this point it’s anyone’s guess,” a source said. “All we can do is try to eliminate the Trump effect to the best of our ability, and hold onto our seats.”
The most recently heard J55 ERW OCTG casing pricing from Taiwan in the US domestic market is at $50.00-$51.25 ($1102-$1130/mt or $1000-$1025/nt), DDP loaded truck in US Gulf coast ports, which includes the current Section 232 tariff. Ex-US mill pricing for that same product continues to be heard at approximately $10 cwt. ($220/mt or $200/nt) above that range.