Order activity, inquiries and pricing or US domestic and import J55 ERW OCTG casing are expected to remain flat through the rest of the year, as many customers are saying they “aren’t planning on doing much” until after the close of the year-end holiday season.
The current week’s activity is also trending light, as many have taken time off to celebrate the US Thanksgiving holiday.
As such, spot market prices for US domestic J55 ERW OCTG casing are still trending at $47.50-$50.00 cwt. ($1047-$1102/mt or $950-$1000/nt), ex-mill, while pricing for import OCTG casing from Taiwan in the US domestic is still being heard at $41.00-$42.50 cwt. ($904-$937/mt or $820-$850/nt), DDP loaded truck in US Gulf coast ports.
Deals at the service center level, however, continue to be available, due to service centers’ desire to draw down inventory levels as to mitigate the year-end inventory tax.