US tubing market - Favorable market conditions persist

Tuesday, 25 April 2006 20:12:50 (GMT+3)   |  
       

Since our last report two weeks ago, import tubing offers from Turkey have risen by $1.50 cwt. ($33 /mt or $30 /nt), now ranging from $34.00 cwt. to $35.50 cwt. ($750 /mt to $783 /mt or $680 /nt to $710 /nt) for FOB, loaded truck, US Gulf Coast ports. East Coast prices are $0.50 cwt. to $1.00 cwt. ($11 /mt to $22 /mt or $10 /nt to $20 /nt) higher than Gulf Coast prices. Import offers from China still range from $32.00 cwt. and $34.00 cwt. ($705 /nt to $750 /mt or $640 /mt to $680 /nt) FOB West Coast ports, and are approximately $0.50 cwt. higher for Houston discharge. The import pricing trend is still up because of still rising flat rolled prices worldwide and strong consumption and demand. US government import statistics show that the top five countries the US imported structural tubing from in March 2006 were: Canada, at 29'383 mt; Turkey, at 9'568 mt; Mexico, at 4'975 mt; Korea, at 2'357 mt; and China, at 3'196 mt. Domestic hollow section prices are still reported at above $42.00 cwt.($926 /mt or $840 /nt). Larger sizes, such as 14" (355 mm) and 16" (406 mm) are still being offered at $70.00 cwt. ($1'453 /mt or $1'400 /nt). The domestic pricing trend is still up for the same reasons the import pricing trend is up - strong US demand for tubing, primarily for residential construction applications, and the upward pricing trend in domestic flat rolled pricing. The previous domestic price increase of $40 /nt ($44 /mt or $2.00 cwt.) was widely accepted by buyers.

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