Offshore prices for unfinished J55 ERW oil country
tubular goods (OCTG) casing has, for the most part, trended sideways since our last report a week ago, with one Korean producer holding their bottom-of-the-market price in the approximate range of $42.50-$43.50 cwt. ($937-$959/mt or $850-$870/nt), DDP loaded truck
US Gulf coast ports, with others Koran mills becoming increasingly willing to negotiate to that range as a means of filling their order books. Taiwanese mills have also taken offer prices down by approximately $2.25 cwt. ($50/mt or $45/nt) in the past week, to $43.00-$44.00 cwt. ($948-$970/mt or $860-$880/nt), DDP loaded truck
US Gulf coast ports, as a means of being able to better compete with their Korean counterparts.
Meanwhile,
US domestic spot prices for finished J55 ERW oil country
tubular goods (OCTG) casing have held on par with levels seen last week, in the approximate range of $59.00-$61.00 cwt. ($1,300-$1344/mt or $1,180-$1,220/nt), ex-Midwest mill. SteelOrbis sources report that those interested in booking significant tonnages can negotiate deals slightly below the most commonly heard transaction range.