US OCTG market watches, waits on rumors of Section 232 probe nearing its end

Tuesday, 18 July 2017 22:48:55 (GMT+3)   |   San Diego
       

News outlets today reported that the Section 232 investigation is in its final stages; the results of the investigation, which could potentially impose limits on import steel tonnages and/or significant tariffs on imports, could have a significant impact on the US domestic and import oil country tubular goods (OCTG) casing markets.

“Everything is uncertain right now,” a source said. “People are afraid to make a move in either direction until there’s a clear outcome.”

In terms of prices, as with last week, the most recently heard pricing for US import J55 ERW OCTG casing from Korea in the US domestic market is trending between $42.50-$44.00 cwt. ($937-$970/mt or $850-$880/nt), DDP loaded truck in US Gulf coast ports, before applicable duties from the already-decided antidumping case. Should the 232 investigation move to implement tariffs, it’s believed that Korean OCTG casing could be “priced out of the market.”

Pricing for US import J55 ERW OCTG casing from Taiwan in the US domestic market has been most recently heard in a range that is about $0.50 cwt. ($11/mt or $10/nt) below Korean pricing.

 


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