Market players within the US import oil country tubular goods market say that while market activity is trending tepid, which is typical of the last two months of the year, many report they are keeping close watch on the upcoming Presidential election.
“A lot of things could change depending on who gets into office,” one source said. “Especially since one of the candidates has basically pledged to end all fracking within the US.”
At current, pricing for unfinished, import oil country tubular goods tubing from Korea in the US domestic market has once again remained lateral, at $33.50-$34.50 cwt. ($739-$761/mt or $670-$690/nt), DDP loaded truck in US Gulf coast ports.
It is further believed that Korean steelmakers will soon revise prices upward based on upticks in global raw materials costs.