(by Paul Vivian and Rick Preckel, www.prestonpipe.com) Market Monitor – Late in May, a debt ceiling agreement was reached and signed into law by President Biden. Included in the agreement, was energy project permitting reform as was discussed in last month’s Report. Approval for the completion of the Mountain Valley Pipeline was specifically called out. While the Bill is a ‘good first step toward reforming energy permitting’ according to the Interstate Natural Gas Association of America and the American Exploration and Production Council, more is left to be done to streamline other hurdles. Since last month’s Report, there were a number of developments on the trade case front. They are: In the case of carbon and alloy seamless standard, line, and pressure pipe from Japan (large diameter and small diameter) and Romania (small diameter), Commerce found that a revocation of the AD orders would likely lead to a continuation or recurrence of material injury to a US industry. In the case of large diameter welded pipe from Korea, Commerce issued preliminary results in the countervailing duty administrative review. The rate for Hyundai and HiSteel moved to 1.54% and the rate for SeAH Steel moved to 0.17% (deminimus). In the case of large diameter welded pipe from Canada, Commerce issued final results in the anti-dumping duty administrative review. Evraz and 36 nonexamined companies were assigned a rate of 0%, down from 26.15%. In the case of large diameter welded pipe from Turkey, Commerce issued final results in the anti-dumping duty administrative review. HDM Celik Boru Sanayi Ve Ticaret and 9 other companies were assigned a rate of 0%. Imports Supply – April line pipe imports totaled 81,886 tons, an increase of 4,145 tons over the license tally reported last month. May 2023 import licenses accelerated after our last publish date and ended the month at 92,412 tons. The June linear forecast, with only 8 of 22 days summed, continues its upward pace at 116,678 tons. The top line pipe import item for April was CARBON ERW, OVER 4 ½” OD, NOT OVER 16” OD, at 25,380 tons – continuing it’s downward momentum from last month. The price was 1,454/ton recovering $129/ton, about half, of last month’s decrease.
Preston Pipe Report – June 2023
Pipe Exchange
14025 West Road
Suite 100
Houston, TX 77041
- Phone: 713.934.9480
- Fax: 713.934.9490
- Email: sales@pipexch.com