Import pricing for J55 ERW oil country
tubular goods casing (OCTG) in the
US domestic market from Taiwan and Korea is still favorable compared to domestic pricing, although some buyers have expressed wariness about booking offshore.
Current offer prices from Taiwan for unfinished J55 ERW OCTG casing in the
US domestic market is being heard at $42.50 cwt. ($937/mt or $850/nt), DDP loaded truck in
US Gulf coast ports. Current offer prices from Korea for unfinished J55 ERW OCTG casing in the
US domestic market is being heard in the approximate range of $42.50-$44.00 cwt. ($937-$970/mt or $850-$880/nt), DDP loaded truck in
US Gulf coast ports.
Current pricing for finished,
US domestic J55 ERW oil country
tubular goods casing (OCTG) which was previously heard at $45-$47 cwt. ($992-1036/mt or $900-$940/nt), ex-mill, has revised upward in the past seven days.
Sources say at this point the domestic [mills] are quoting closer to $50.00 cwt. ($1102/mt or $1000/nt) ex-mill. “Lead times on import are really far out and a lot of the mills are quoting July / August shipment,” one source said. “Buyers just aren’t willing to take that kind of risk. No one knows if oil prices are going to remain stable or if that market could tank based on what may or may not happen with global production. The domestic mills are taking advantage of that.”