There isn’t a whole lot going on in the
US domestic and import oil country
tubular goods (OCTG) casing markets, as buyers and sellers are saying that activity has fallen flat.
Offshore futures prices have held mostly steady since our last report a week ago; Taiwanese offer prices for unfinished J55 ERW OCTG casing are still trending in the approximate range of $43-$44 cwt. ($948-$970/mt or $860-$880/nt), DDP loaded truck in
US Gulf coast ports while Korean futures offers for the same product rare holding at $44.50-$45.50 cwt. ($981-$1,003/mt or $890-$910/nt), DDP loaded truck in
US Gulf coast ports.
US domestic prices are also mostly neutral, at $49.00-$50.00 cwt. ($1,080-$1,102/mt or $980-$1,000/nt), ex-Midwest mill; as with last week, deep deals are still said to be available based on tonnage.
“At this point it really doesn’t matter what the price is,” according to one Texas-based source. “No one is buying anything, from anyone. The market is completely flat.” Other sources agree, saying that if, on the off chance, someone is looking to make a buy they could essentially name their price. “If mills can make it work based on their input costs, they’ll do it.”