There hasn’t been a whole lot of change in the
US domestic or import J55 ERW oil country
tubular goods (OCTG) casing markets, as many are saying that orders are flat and that those who are buying can essentially name their own price. “There isn’t talk about the market at this point,” according to one Texas-based source. “There’s talk about what used to be the market. The orders are few and far between and sellers are getting rid of stuff below cost just to move it.”
US domestic prices for finished J55 ERW OCTG casing continue to trend at $49.00-$50.00 cwt. ($1,080-$1,102/mt or $980-$1,000/nt), ex-Midwest mill although as with last week, deals below that range are said to be available based on tonnage.
Taiwanese offer prices for unfinished J55 ERW OCTG casing are also “mostly sideways” in the past seven days and are still trending in the approximate range of $43-$44 cwt. ($948-$970/mt or $860-$880/nt), while Korean futures offers for the same product rare holding at $44.50-$45.50 cwt. ($981-$1,003/mt or $890-$910/nt), both DDP loaded truck in
US Gulf coast ports.