Generic Hero BannerGeneric Hero Banner
Latest market news

US OCTG, line pipe imports fall in July

  • : Metals, Pipe and tube
  • 24/08/29

Preliminary data from the US Department of Commerce shows that imports of oil country tubular goods (OCTG) and line pipe products fell in July.

  • OCTG volumes fell by 88,100 metric tonnes (t) from the prior year, as volumes from Japan dropped by 15,500t, South Korea and Thailand both dropped by 13,500t, and volumes from Vietnam and Mexico fell by 11,300t and 9,300t, respectively.
  • Volumes of line pipe less than or equal to 16in fell by 12,300t, as Italian volumes dropped by 4,500t, Ukraine dropped to zero from 4,400t in the prior year, and Brazilian volumes fell by 3,100t.
  • Standard pipe imports increased by 13,400t on a 7,900t increase from Turkey.
  • Heavy structural shape volumes jumped by 39,700t as Spanish volumes increased by 21,700t from the prior year, and imports from Germany rose by 9,200t.

US pipe and tube importsmetric tonnes
ProductJul-24Jul-23Volume change±%Jun-24
OCTG95,792183,909-88,117-47.9%126,760
Line pipe69,38780,875-11,488-14.2%87,976
Standard66,10052,71613,38425.4%76,317
Heavy Structural Shapes107,97968,25339,72658.2%54,096
July 2024 data is preliminary data, which is subject to change. Line pipe is all diameters.

Related news posts

Argus illuminates the markets by putting a lens on the areas that matter most to you. The market news and commentary we publish reveals vital insights that enable you to make stronger, well-informed decisions. Explore a selection of news stories related to this one.

25/03/03

Australia's Rio Tinto terminal resumes iron ore exports

Australia's Rio Tinto terminal resumes iron ore exports

Sydney, 3 March (Argus) — UK-Australian metal producer Rio Tinto has started loading iron ore onto ships at its East Intercourse Island facility at the Port of Dampier today, ending over one month of weather-related export disruptions. Cyclone Sean flooded one of the company's railcar dumpers as it passed Dampier on 20 January, damaging it and halting exports from the iron ore terminal. But Rio Tinto did not stop all shipments in February. The company moved ore out of Australia's Pilbara region throughout most of the month, using other dumpers at Dampier and the nearby Port Walcott. Rio Tinto announced on 20 February that severe weather events over January and February — including Cyclones Sean, Zelia, Tahlia, and Vince — disrupted 13mn t of ore shipments . The company's mitigation plans only account for roughly half of the losses, it added at the time. Rio Tinto maintained its 2025 ore shipment guidance at 323mn-338mn t on 3 March, but announced that it would update investors again in mid-April, when the company publishes its first-quarter operations review. Argus ' iron ore prices rose slightly over the last quarter. Its iron ore fines 62pc Fe (ICX) cfr Qingdao price stood at $106.50/t on 28 February, up 4.3pc from $102.10/t three months earlier. By Avinash Govind Argus' Iron ore prices ($/t) Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Low flood risk expected for upper Mississippi River


25/02/28
25/02/28

Low flood risk expected for upper Mississippi River

Houston, 28 February (Argus) — The spring flood risk is low along the upper Mississippi River, as area soils and streams have amble capacity to accommodate seasonal precipitation, according to the National Weather Service (NWS). Precipitation in the Corn Belt has been below normal this winter, keeping the region abnormally dry, the NWS said Thursday in its second Spring Flood Outlook . Minimal snow pack has formed in the Northern Plains following lackluster winter precipitation. Both these factors have reduced the risk for March-April flooding along the upper Mississippi River. Around 0-2in of water equivalent are in the snowpack along the northern stretches of Minnesota, Wisconsin and Michigan. In addition, stream flows are below normal, giving them more capacity to handle spring rains and snow melt. In other areas of the Corn Belt and the Northern Plains, unfrozen soil is expected to soak up precipitation, asmoisture levels remain below normal. Southern Illinois and Missouri have no frozen soil, completely thawing since the previous outlook . Iowa has 16-24in of frozen soil, slightly higher over the past two weeks. Northern states such as Minnesota and Wisconsin still have an average of 24-36in of frost depth. These states have the entire month of March to defrost and gain moisture levels, since the majority of spring planting for the Corn Belt begin in April. Normal precipitation is projected for the upper Mississippi River basin through the first half of March, according to the NWS' Climate Prediction Center. The seasonal temperatures outlook for March-April are near normal, while precipitation is anticipated to be above average. By Meghan Yoyotte Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

UK reviews steel safeguard developing country status


25/02/28
25/02/28

UK reviews steel safeguard developing country status

London, 28 February (Argus) — UK government body the Trade Remedies Authority (TRA) is reviewing the developing country exceptions in its safeguard, it said today. The review will likely mean Vietnamese hot-rolled coil comes into the scope of the safeguard. Vietnam had a 10pc share of the UK's third-country steel imports from outside of the EU last year, at just over 42,000t. Any developing country with more than a 3pc share of the UK's non-EU imports will come into the safeguard's scope. Egypt will likely come into the safeguard as well, as it held a more than 6pc share of the UK's third-country imports last year. Market participants have until 14 March to comment on the proposed changes, with the TRA planning to make its statement of intended final recommendations on 28 March. It will make its final recommendation on 30 June. This timeline suggests any changes will come into force from 1 July. UK steelmakers are lobbying for tighter import restrictions in light of fresh 25pc import tariffs in the US and the EU's steel safeguard review. The EU review will "meaningfully" reduce the bloc's imports, several sell-side sources suggest. The idea of blanket tariffs in the UK have been muted by some market participants, but many question whether the UK would take such an approach. It is unlikely that the review of the UK's developing country exceptions will be the only measure the country takes, with other potential restrictions likely in the pipeline. By Colin Richardson Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Bearish Indian steel market awaits safeguard duty


25/02/28
25/02/28

Bearish Indian steel market awaits safeguard duty

Mumbai, 28 February (Argus) — Mounting global pressures, including impending US tariffs and risks of more imports from Asia-Pacific countries, have fuelled expectations of safeguard duties to shield Indian steel producers hit by falling prices. The near-term outlook for Indian hot-rolled coil (HRC) prices, which fell by 15pc in 2024, remains bearish in the absence of strong demand from consumers and significant government spending. A drop in exports and rising domestic steelmaking capacities have also weighed on prices, squeezing producers' margins. External pressures have escalated recently as several countries put up trade barriers, leaving top steel suppliers such as China with limited options for overseas sales. US president Donald Trump's move to impose 25pc tariffs on all steel imports from 12 March is the latest in a series of protectionist measures undertaken by western countries to protect their domestic industries. Steel market participants anticipate an indirect impact of these tariffs on India, as Asian producers that supplied to the US market will now increasingly turn their attention to the country. India is considered a bright spot for long-term steel demand, given its infrastructure boom and economic growth potential. Ratings agency Icra estimates about 4mn t/yr of steel supplied to the US by Asian countries such as Japan and South Korea, which until now had preferential market access, could be partly diverted to high-growth markets such as India. Indian steelmakers are leveraging this situation to push harder for safeguard duties to limit HRC imports, particularly from countries with which India has a free-trade agreement (FTA), market participants said. Under the FTA, no basic customs duty is imposed on imports from countries such as Japan and South Korea, unlike China, which incurs a 7.5pc import duty. Japan and South Korea combined accounted for roughly half of India's finished steel imports of 8.4mn t in April-January, according to ministry data. Total finished steel imports rose by 21pc on the year in the past 10 months. Cheaper imports were one of the reasons for 2024's steel price drop, with Argus -assessed ex-Mumbai HRC prices falling to 47,250 rupees/t ($541/t) at the end of December, excluding goods and services tax, from Rs55,500/t at the start of the year. Inflows slowed towards the end of the year as weak steel market sentiment and the ongoing safeguard investigation kept traders risk-averse. But in February, some consumers booked two vessels of Japanese-origin HRC for as low as $480-490/t cfr India for March shipment. Sluggish domestic steel demand in Japan and the blocked Nippon Steel-US Steel merger has raised the possibility that Japan will sharpen its focus on India, a steel market analyst said. Vietnamese steelmakers Formosa Ha Tinh and Hoa Phat have also received their licence required to export HRC to India, raising concerns for domestic producers. Safeguards a 'temporary' measure Indian mills have asked for a 25pc safeguard duty on flat steel imports, but market participants expect the duty, if imposed, is likely to be about 15pc. Once the duty is imposed, steel mills will increase prices imminently by as much as Rs3,000/t, sources said, but the resulting price increase in the trade market is likely to be temporary, especially if domestic demand conditions remain weak. Lower supply from mills has currently kept a floor on HRC prices, which were last assessed at Rs48,000/t ex-Mumbai today. "Safeguard duties will buy time for steel mills over the next few months to hike prices and sales realisations," a north India-based distributor said. "While mills are confident about safeguards being imposed, the government will have to be cautious as it is also focusing on controlling inflation and supporting small businesses." India's HRC export activity has been weak, with mills not making many formal export offers in recent days. This might be the case because they wish to sell at higher prices domestically once safeguards are imposed rather than sell at lower levels in the export market now, market participants said. "Mills' wait-and-watch approach on exports is one of the reasons why I feel safeguards might be coming," a Mumbai-based trading firm said. By Amruta Khandekar Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

GFG seeks partner in Australian coking coal mine


25/02/28
25/02/28

GFG seeks partner in Australian coking coal mine

Sydney, 28 February (Argus) — British-owned metals firm GFG Alliance is seeking a partner willing to invest in its Australian Tahmoor coking coal mine, reversing plans to sell the site and pay down debts at its Whyalla steelworks in South Australia (SA). GFG will continue to support and develop the 3mn t/yr Tahmoor mine after the capital raise, the company said on 27 February. GFG paused operations at the mine on 7 February for a month, announcing plans to restart operations at the mine in early March. The company has not revealed any change to its Tahmoor restart timeline. The Tahmoor mine had been providing financial aid to GFG's 1.2mn t/yr Whyalla steelworks until SA's state government took control of the steel plant on 19 February, placing it into administration. GFG closed Whyalla throughout much of 2024, over blast furnace issues. The plant, which the company ran through a subsidiary, owes creditors millions of dollars. Australia's federal government has partnered with the SA government to prop up the site through a A$2.4bn ($1.49bn) support package, including a wage guarantee to staff at the steelworks. Both governments are committed to eventually reopening the plant. Argus ' metallurgical coal premium hard low-vol fob Australia price has been declining over the last quarter, falling from $200.30/t on 27 November to $187.90/t on 27 February, when Argus last assessed it. By Avinash Govind Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Generic Hero Banner

Business intelligence reports

Get concise, trustworthy and unbiased analysis of the latest trends and developments in oil and energy markets. These reports are specially created for decision makers who don’t have time to track markets day-by-day, minute-by-minute.

Learn more