OCTG gains momentum after dumping verdict

Jul 29, 2014 | 04:56 PM | Thorsten Schier

Tags  oil country tubular goods, OCTG, line pipe, steel imports, Thorsten Schier

NEW YORK — Oil country tubular goods (OCTG) prices are gathering steam following the recent anti-dumping trade case ruling that saw duties levied against South Korea, the largest overseas supplier of the product to the United States, although sources said many mills are still in a wait-and-see mode on pricing.

"The market as a whole is reacting positively because everybody would like to make a little money for a change," one trader said.

Prices for imported J55 casing are around $980 per ton vs. $900 a month ago, with Korean mills said to be sticking firmly to numbers that cover their dumping margins.

"They’re fairly uniform across the board about pushing the increase through on new business," the trader said, although this did not apply for orders already on the water. "There, it’s more on a case-by-case basis. It has a lot to do with the existing relationship and the future business (between mill and customer)." He said that some Korean mills had already priced in a potential dumping margin for some of the material en route. ....

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