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

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May 2018 | Welded steel tube & pipe


South Korean steel duties: where will the tonnage go and where are prices headed?


The quota amounts for South Korean OCTG and linepipe have been effectively met for the year and will take South Korea out of the market for the rest of the year. This will have a major effect on prices through the end of 2018.

On April 30, 2018, Donald Trump issued a Presidential Proclamation under Section 232 of the Trade Act of 1974 which applies an absolute quota for Steel Mill Articles from South Korea, including Oil Country Tubular Goods (OCTG) and linepipe. The quota, which amounts to 70% of the 2015-2017 average of imports by product, became effective on May 1, 2018 but applies the quota starting from January 1, 2018 through December 31, 2018.

The restraint states that imports from South Korea in an aggregate quantity under each product subheading during any of the periods, i.e. quarters, January through March, April through June, July through September, or October through December...

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