Spot market activity for US domestic J55 electric resistance welded (ERW) oil country tubular goods (OCTG) casing has been relatively quiet since last week, with many buyers and sellers taking the holiday week off. The most commonly reported range for finished material is still between $61.00-$62.00 cwt. ($1,345-$1,366/mt or $1,220-$1,240/nt) ex-Midwest mill, unchanged for the past three weeks, after prices fell in the beginning of December. Pricing continues to be extremely flexible for buyers interested in placing orders for larger tonnages, although activity is expected to be scant until after the New Year.
Meanwhile, import offers for plain end J55 ERW OCTG casing from Korea, Taiwan and Vietnam have also remained neutral since last week. Offer prices from all three countries continue to range from $44.50-$45.50 ($981-$998/mt or $890-$905/nt), DDP loaded truck in US Gulf ports. As with last week, interest in futures is currently weak as prices for traders' position tons already on the ground are expected to remain extremely negotiable through the close of 2012.