July looks like it might have been an outlier as a surge in seamless import licenses in August potentially boosted shipments to the highest mark of the year. That the outcome is based on several 'ifs', however, so we need to cross our fingers. Domestic shipments, both welded and seamless, retreated, so we are not overly excited at this reporting so far; a few 'ifs' and shipment retreat on the domestic side worries us just a bit. We also need to mention that early September licenses show more normal import supply activity so far.
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