The most commonly heard pricing for US import J55 ERW OCTG casing from Taiwan in the US domestic market has ticked downward since our last report a week ago, from $41.00-$42.50 cwt. ($904-$937/mt or $820-$850/nt), DDP loaded truck in US Gulf coast ports to $40.00-$41.00 cwt. ($882-$904/mt or $800-$820/nt), DDP loaded truck in US Gulf coast ports.
Activity continues to remain robust, sources note, adding that the removal of regulatory restrictions by the Trump administration continue to be boon for energy pipe.
In terms of oil prices, those also remain strong. Domestic market players say they were pleased to see today’s continued climb in domestic oil prices; US oil prices today closed at more than a three-year high. The uptrend, sources note, comes on the heels of a pending US government report on domestic oil inventory levels. Those levels are expected to indicate a tenth straight week of inventory decline.