Pipe and tube
Overview
OCTG (oil country tubular goods) and Line Pipe pricing sits at the intersection of two complex markets – demand from the oil and gas industry and supply from steel markets.
Argus monitors and delivers key OCTG and line pipe price data while analysing supply and demand markets to produce detailed market reports and outlooks on pipe prices and market drivers.
Latest pipe and tube news
Browse the latest market moving news on the global pipe and tube industry.
Nucor increases HRC spot price by $5/st
Nucor increases HRC spot price by $5/st
Houston, 24 March (Argus) — US steelmaker Nucor edged up its published hot-rolled coil (HRC) spot pricing today by $5/short ton (st). The company set its weekly consumer spot price (CSP) this morning at $935/st outside of California, where it raised its CSP by $5/st to $995/st. Lead times are 3-5 weeks. The CSP increase was the smallest since Nucor began raising prices in late-January. The Argus US HRC Midwest and southern assessments rose by $15/st on 18 March to $950/st ex-works. By Rye Druzchetta Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
US Steel calls Nippon deal a 'partnership'
US Steel calls Nippon deal a 'partnership'
Houston, 21 March (Argus) — US steelmaker US Steel called its combination with Nippon Steel a "partnership," after nearly a year and a half of the Japanese steelmaker trying to acquire US Steel. US Steel said Nippon would make "investment commitments" through the partnership and transfer technology, though US Steel did not provide details in its 20 March first quarter earnings release. Nippon has been pursuing a $15bn acquisition of US Steel since late 2023, which came up against presidential election-year headwinds, including pledges by then-President Joe Biden and then-candidate Donald Trump to block the deal. Biden did block the transaction near the end of his presidency, which Nippon and US Steel sued against. As recently as last week the lawsuits were still active, though on 14 March the US government filed for a delay of the lawsuit so it could work towards an agreement with the two companies. In the earnings guidance, US Steel said its new 3mn short tons (st)/yr Big River 2 flat-rolled steel mill in Arkansas continues to ramp up, and is expected to hit run-rate throughput in the second half of the year and its full capacity in 2026. Seasonal mining impacts are expected to outweigh higher first quarter selling prices and volumes at US Steel's US-based blast furnaces, while its electric arc furnace (EAF) minimills in Arkansas boosted shipment volumes. In Europe, shipments are expected to increase along with more favorable raw material pricing, though the company called the demand environment "challenging." Tubular segment results are expected to benefit from higher shipment volumes and prices. US Steel expects to post a first quarter loss of $145mn, compared with a prior year profit of $171mn. By Rye Druzchetta Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
US steel tariffs may prove import equalizer
US steel tariffs may prove import equalizer
Houston, 13 March (Argus) — The removal of steel import quotas and nontariffed systems by the US, even as President Donald Trump reimposes steel tariffs, may help level the international playing field, allowing countries that have been unable to compete for years in the US steel market a chance to sell steel into the country. Buying interest for steel imported to the US from countries that have not been able to be competitive for years has grown in recent weeks. US buyers told Argus that skyrocketing US prices — combined with the reimposition of 25pc Section 232 steel tariffs on countries with tariff rate quotas (TRQs) and non-tariffed steel — has reopened some markets. The 25pc 232 tariffs have been in effect since March 2018, but many countries have received exemptions and TRQs, with 80pc of US steel imports coming from these excluded countries and not incurring the 25pc tax, according to US Department of Commerce data. The equalizing of the trade barrier to cover all imports could allow countries like Turkey — which used to be a major source of imported steel into the US — to restart some trade flows to the country, as global prices remain at a wide discount to US prices. Domestic buyers want imports US service centers interested in diversifying their purchases with lower-priced foreign steel and importers interested in selling the material said wide deltas between US steel prices and imports made imported offers from at least a half dozen countries more attractive over the last few weeks. The Argus US hot-rolled coil (HRC) Midwest and southern assessments both rose week on week by $15/short ton (st) to $935/st on 11 March, while the HRC import assessment jumped by $80/st to $800/st DDP Houston, Texas. The wide spread between domestic and import prices serves as motivation for US buyers to purchase imported steel. Tens of thousands of tons of cold-rolled coil (CRC) and HRC from Turkey may begin to flow into the US, according to some buyers. Prior to the original imposition of the 25pc 232 tariffs, Turkey exported 1.98mn metric tonnes (t) of steel products to the US in 2017. Since tariffs were implemented volumes have plummeted, reaching only 391,400t in 2024, according to the Commerce Department. Other buyers have recently reported purchasing South Korean HRC imports, after that country's mills spent months considering pricing as they awaited clarity on whether the country — which used to have TRQs — would be granted exemptions by Trump. So far Trump has not granted any country exemptions from the reinstated 232 tariffs. Tons from Turkey and South Korea are expected by mid-year. HRC import bids were also heard from mills in Australia, Brazil, Egypt, and Vietnam — countries that had not been active into the US for HRC in many months. Trade policies concerns abound A concern for US steel importers is that Trump could rapidly change his trade policies and add new tariffs to imports, increasing the duty costs when steel arrives. Such risks have reared their heads over the last two weeks with back-and-forth tariff spats between the US, Canada and Mexico. To mitigate the risk, most buyers have booked less than they otherwise would, though many believe there will be a rise in some import volumes come mid-2025. Steel imports from countries without tariffs or with TRQs made up 80pc of the 26.2mn t (28.9mn st) of total steel products imported in 2024. In 2017, the year before tariffs were imposed, approximately 70pc of total steel imports came from those countries, according to US Department of Commerce data. With this latest round of 232 tariffs, Trump appears less likely to negotiate new TRQs or exemptions, with the tariff exclusion mechanism that allowed companies to file to have specific products not taxed no longer active. Countries like Australia and Japan were reportedly denied new exemptions in recent negotiations, even as both countries had nontariffed mechanisms in place under the prior scheme. Domestic companies, particularly steelmakers, can and have filed to have tariffs placed on steel derivative products, which opens up a whole new class of products to the risk of having 25pc tariffs placed on them as Trump attempts to bring manufacturing back to the US. By Rye Druzchetta US steel imports by country t Country 2024 2023 2018 2017 Canada 5,952,054 6,248,393 5,646,641 5,675,816 Brazil 4,080,695 3,576,002 3,984,681 4,665,428 Mexico 3,194,752 3,799,057 3,498,308 3,155,117 South Korea 2,548,877 2,392,320 2,507,860 3,401,405 Vietnam 1,237,055 508,232 1,006,702 679,129 Japan 1,070,681 1,078,222 1,370,406 1,727,844 Germany 975,878 947,322 1,253,356 1,380,434 Taiwan 917,760 525,685 966,393 1,128,356 Netherland 556,877 460,678 556,515 636,900 China 470,197 553,406 649,138 763,036 Turkey 391,444 283,198 1,045,592 1,977,866 Russia 0 4 2,296,781 2,866,695 Total 26,224,660 25,583,087 30,573,529 34,472,507 US Department of Commerce Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
US steelmakers urge no 232 tariff exclusions
US steelmakers urge no 232 tariff exclusions
Houston, 7 March (Argus) — Top leaders of US steelmakers urged President Donald Trump to resist requests to exclude or exempt steel imports from upcoming 25pc Section 232 tariffs. The chief executives of Cleveland-Cliffs, CMC, Metallus, North American Stainless, Nucor, Tenaris, US Steel, and Zekelman Industries and the treasurer of Steel Dynamics signed the letter sent to Trump on Friday. Trump is set to put the 25pc Section 232 steel and aluminum tariffs into effect on 12 March, removing all tariff rate quota (TRQ) and nontariffed agreements. In the letter, the leaders said the original 25pc national security 232 tariffs implemented in March 2018 led to steel imports dropping "significantly," and allowed for over $20bn in upgrades and new mills. Utilization rates were also said to have increased. US steelmakers have both shuttered facilities and added millions of tons of production since 2018, with closures mainly from older, iron ore-based blast furnaces while new and upgraded scrap-based electric arc furnace (EAF) mills have added capacity. In the letter, the steelmakers added that steel tariff exemptions since 2018 allowed for higher import volumes, "even for products readily available from domestic suppliers." US steel import volumes fell in 2018 and 2019 and were 9.14mn metric tonnes (t) lower in 2019 than in 2017, the year before tariffs were imposed. They fell by another 5.3mn t in 2020, when the Covid-19 pandemic led to broad shutdowns in the US and global economies. Imports have oscillated wildly since then, up by 9.57mn t in 2021, before falling year over year in 2022 and 2023. Imports were up by 641,600t in 2024 from the prior year. By Rye Druzchetta US steel product imports t Year Imports YoY Change (t) Change (%) 2017 34,472,508 na na 2018 30,573,530 -3,898,978 -11.3% 2019 25,332,481 -5,241,049 -17.1% 2020 20,032,166 -5,300,315 -20.9% 2021 29,601,055 9,568,889 47.8% 2022 28,076,057 -1,524,998 -5.2% 2023 25,583,086 -2,492,971 -8.9% 2024 26,224,660 641,574 2.5% US Department of Commerce Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Spotlight content
Browse the latest thought leadership produced by our global team of experts.
Metal movers: Will the EU steel safeguards changes hit imports?
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