US OCTG trade case announcement delayed until Tuesday

SteelOrbis has confirmed that the US Commerce Department’s preliminary ruling on the oil country tubular goods (OCTG) anti-dumping case has been delayed until next week.  Industry insiders feel they have a decent grasp on what that ruling will look like, although what the preliminary duty margins may or may not be is anyone’s guess.  Some believe that duties for Taiwanese, Philippine, Saudi Arabian and Indian mills will be so high that imports from these countries will be knocked completely out of the market.  And although Korean mills continue to maintain their duty margins will be less than 10 percent, others aren’t so sure.  For now, those within the US domestic market are watching and waiting, and continue to have all ears to the ground.

Meanwhile, prices for US domestic finished J55 ERW OCTG casing may have held steady in the past week, still at $59.00-$61.00 cwt. ($1,300-$1344/mt or $1,180-$1,220/nt), ex-Midwest mill, but depending on what happens with next week’s announcement, the current price point could soon be a thing of the past.  Although it's speculated that US prices could firm in a range consistent with announced margins against Korean mills, that landscape will not become clearer for the next few weeks.