Research

Forecasts and market analysis based on price assessments from Fastmarkets MB and Fastmarkets AMM

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August 2014 | Seamless Steel Tube & Pipe


Prices rise on duty results, but are they sustainable?: Americas Market Analysis


As a result of the duty determination, seamless OCTG pricing rebounded strongly, posting the largest month-on-month rise since the start of the global recession.

Last month, the final duty determination on imported OCTG from nine countries were released following the publication of the July issue of this report. Since the duty release, which have yet to be confirmed by the US International Trade Commission (US ITC), MBR has been speaking to market participants and analyzing the outcome. The duties placed on seamless producers are highlighted in the attached table. The Indian mills were relieved of their 55.37% duty, with a smaller 5.79% for USTP and ISMT and all other seamless producers. US imports of Indian seamless OCTG averaged more than 9kt/month in 2013, but fell sharply at the end of the year and through the first quarter of 2014. The duties on Thai and Vietnamese tonnage, which accounted for 40kt of US imports in 2013, will likely be shut out of the market. Saudi Arabia and Ukraine, which received duties of 2.69% and 6.73%...

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