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.