The US Hot Rolled Coil (HRC) price continued to rise due to insufficient supply and is currently at a new high. Thus, the HRC price also exceeded the market price for finished steel products after processing, especially for API pipes.
API Taiwan pipe mills noted current export price is lower than South Korean mills; however, after 25% of the Section 232 tax rate, it is almost equal to the South Korean proposal. Compared to the offer of HRC at local plants in the US, the price gap between the US and Taiwan has widened to about US $ 500 per tonne.
In addition, since the US oil industry has yet to recover, even with high HRC prices and longer supply to the US domestic market, Taiwan's API pipe export market still does not benefit from it.
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