Some offshore producers of US import OCTG looking to firm prices

Wednesday, 02 April 2014 23:08:50 (GMT+3)   |   San Diego
       

US import prices for unfinished J55 ERW oil country tubular goods (OCTG) casing may have held steady since our last report a week ago, but trader sources say that mills are trying to garner higher prices from small-quantity customers. That increase is going to be a tough sell, especially since there are several Korean and Taiwanese producers that are willing to wheel and deal.  For now, the most commonly heard transaction range from Korean mills remains at $42.50-$43.50 cwt. ($937-$959/mt or $850-$870/nt), DDP loaded truck US Gulf coast ports, while Taiwanese prices have held at $43.00-$44.00 cwt. ($948-$970/mt or $860-$880/nt), DDP loaded truck US Gulf coast ports.

Meanwhile, US domestic spot prices for finished J55 ERW oil country tubular goods (OCTG) casing have also trended sideways in the past seven days and continue to hold in the approximate range of $59.00-$61.00 cwt. ($1,300-$1344/mt or $1,180-$1,220/nt), ex-Midwest mill.  Deals slightly below that range, however, continue to be available to those interested in booking larger orders.


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