US OCTG market stands to benefit from Trump presidency

Tuesday, 15 November 2016 23:29:57 (GMT+3)   |   San Diego
       

Last week, market players within the US energy pipe industry, including those involved with buying and selling J55 ERW oil country tubular goods (OCTG) casing and tubing in the US domestic market were anxiously awaiting the outcome of the Presidential election.

Voters have since named Donald Trump to be the 45th President of the United States; it’s believed the future commander-in-chief’s energy policies will have a positive impact on demand, and pricing, for J55 ERW OCTG tubing and casing within the US domestic market.

Analysts believe it is only a matter of time before both the Keystone Pipeline and Dakota Access Pipeline are approved. President-elect Trump has also taken a notable pro-oil-drilling stance, which many believe will help bolster rig counts.

In terms of current pricing, sources close to SteelOrbis have noted that, despite positive signs in the US domestic market that are a result of the recent Presidential election, that price points for import OCTG casing in the US domestic market are “tricky to pinpoint due to uncertain [hot rolled] coil prices in the global marketplace.”

The most recently heard offer for import OCTG casing from Taiwan in the US domestic market has been heard at approximately $34.00 cwt. ($750/mt or $680/nt), DDP loaded truck in US Gulf coast ports.  Prices, however, could experience revisions in the upcoming weeks due to ongoing volatility in both global raw materials and HRC prices.


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