The state of the US domestic and import J55 ERW OCTG casing markets has not changed in recent weeks, with lackluster drilling activity and unexciting oil prices putting a damper on the market. As of late last week, it was reported that the US had 935 active oil and gas rigs, which reflects a 122-rig drop from the same reporting period in 2018.
In terms of pricing, spot market prices for domestic and import (Korean) J55 ERW OCTG casing continue to be heard in the range of $50-$55 cwt. ($1,102-$1,213/mt or $1,000-$1,100/nt), ex-mill and DDP loaded truck in US Gulf Coast ports, respectively. As with last week, deals below this range are available on a case-by-case basis.