SteelOrbis has confirmed that the most commonly heard spot market price range for US domestic plain-end J55 ERW OCTG casing is still being heard in the range of $110-$120 cwt. ($2,425-$2,646/mt or $2,200-$2,400/nt), FOB mill, reflecting no change since our last report a month ago.
“Raw materials costs are obviously dropping, but oil prices are still above $80 per barrel and demand remains strong,” a source said. “Are deals out there? Yes, but considering where demand is and where the price of oil is, there’s not a huge incentive to drop prices to chase orders.”