US domestic spot prices for finished J55 electric resistance weld (ERW) oil country
tubular goods (OCTG) casing is relatively unchanged since our last report a week ago, as the most commonly reported transaction range is still holding at $49.00-$50.00 cwt. ($1,080-$1,102/mt or $980-$1,000/nt), ex-Midwest mill. Sources close to SteelOrbis say the market is still feeling the impact of the marked year-on-year decline in rig counts and that there is still quite a bit of supply that is on the ground that needs to be worked through.
Futures prices from Korean producers are also unchanged in the past week, after Korean futures offers for unfinished J55 electric resistance weld (ERW) oil country
tubular goods (OCTG) casing dropped by approximately $5.50 cwt. ($121/mt or $110/nt). New offers continue to trend in the approximate range of $39.00-$40.00 cwt. ($861-$882/mt or $780-$800/nt, DDP loaded truck in
US Gulf coast ports, reflecting no change week-on-week. Texas sources continue to report that unfinished on-the-ground Korean OCTG casing is available at price points slightly below the futures range, and say that finished Korean on-the-ground J55 ERW OCTG casing is available at prices more than $5.00 cwt. ($110/mt or $100/nt) below
US spot market prices.