The
US Department of Commerce may have announced their preliminary results of its administrative review of the countervailing duty (CVD) order on circular welded carbon steel pipe and tube (standard pipe) from
Turkey, although the announcement is not expected to have too much of an impact on the market. The preliminary net subsidy margins against Boursan, Erbosan and Toscelick are de minimis, while the remaining named mills were found to have no shipments of sales during the review period. The de minimis rulings were expected, according to trader sources, so yesterday’s announcement is hardly making big waves in the market. But this could have an impact in terms of Turkish bookings. For the month of March, the most recent Steel Monitoring Import and Analysis (SIMA) data shows that
US standard pipe import tonnages from
Turkey came in at 5,811 mt (license data), but as of April 22, the current month’s import tonnages are at 14,706 mt (license data). In terms of import offer prices from Vietnam those continue to be offered in the approximate range of $37.50-$38.50 cwt. ($827-$849/mt or $750-$770/mt CFR, DDP loaded truck in
US Gulf Coast ports, with Taiwanese offers are still at approximately $0.50 cwt. ($11/mt or $10/nt) below that range.
Meanwhile, the
US domestic market has continued to truck along at status quo, with order activity and inquiries holding consistent with where they were two weeks ago. Although it had been speculated that
US domestic A-53 electric resistance welded (ERW) black plain end (BPE) Grade A standard pipe mills might push for a price increase on the heels of back-to-back increase announcements from flats mills, an announcement was not made. For now, the most commonly reported ex-mill spot price transaction range has held neutral, at $45.00-$46.00 cwt. ($992-$1,014/mt or $900-$920/nt), although deals may be available for those who are looking to book larger tonnages.