SteelOrbis has learned that the most commonly heard spot market price transaction range for US domestic J55 ERW OCTG casing continues to be heard in the range of $49-$54 cwt. ($1,080-$1,191/mt or $980-$1,080/nt), ex-mill, unchanged since last week.
Sources tell SteelOrbis that while availability for OCTG is still abundant, there have been inventory holes reported that will likely be filled within the next two months. Additionally, sources say the OCTG market was in a "good spot" as far as supply/demand and raw material costs, but the coronavirus outbreak has many people concerned. Dropping oil prices have also left the market timid, however sources say "budgets are in place" for at least the first half of the year so demand is forecasted to be decent.