Sources close to SteelOrbis have confirmed that while the
US domestic and J55 electric resistance weld (ERW) oil country
tubular goods (OCTG) market hasn’t changed much in the past seven days, the import market is getting interesting.
Korean futures offers for unfinished J55 ERW OCTG casing, however, have been revised downward by approximately $5.50 cwt. ($121/mt or $110/nt). New futures offers are trending in the approximate range of $39.00-$40.00 cwt. ($861-$882/mt or $780-$800/nt, DDP loaded truck in
US Gulf coast ports. Prices for unfinished, on-the-ground J55 ERW OCTG casing from
Korea is rumored to be available at prices slightly below this range.
Meanwhile,
US domestic spot market offer prices are still trending in the approximate range of $49.00-$50.00 cwt. ($1,080-$1,102/mt or $980-$1,000/nt), ex-Midwest mill.