Order activity and inquiries for
US domestic finished J55 electric resistance welded (ERW) oil country
tubular goods (OCTG) casing have picked up slightly in the past several days, as many have returned to work after enjoying an extended holiday vacation. Although questions as to when and if prices will firm continue to swirl, the most common ex-mill transaction range remains unchanged. For now, the average spot market price has held in at $58.00-$61.00 cwt. ($1,279-$1,344/mt or $1,160-$1,220/nt) ex-Midwest mill, all depending on the size and scope of the order.
In terms of imports, Korean mills are still offering unfinished J55 ERW OCTG casing in the approximate range of $47.25-$48.25 cwt. ($1,041-$1,063/mt or $945-$965/nt) DDP loaded truck in
US Gulf ports. Prices for on-the-ground unfinished J55 ERW OCTG casing, however, have firmed by approximately $2.50 cwt. ($55/mt or $50/nt) from levels seen in mid-December, as distributors are no longer offering fire-sale pricing in order to thin inventories as a means of avoiding a year-end inventory tax. That having been said, current pricing for in-stock Korean J55 ERW OCTG casing is in the approximate range of $45.00-$46.00 cwt. ($992-$1,014/mt or $900-$920/nt).