Sources within the US domestic and import J55 ERW OCTG casing market say that conditions continue to remain flat, with some expressing frustration over current price points.
One source said his company is “underwater” on a lot of previously purchased inventory due to price declines that have taken place since the latter part of 2018.
“The steel industry has always had big ups and downs, but some of the things that have happened recently has been inflicted by the current administration, which is frustrating,” he said.
For now, domestic spot market prices for US domestic J55 ERW OCTG casing remain in the range of $60.00-$62.50 cwt. ($1,322-$1,378/mt or $1,200-$1,250/nt), ex-mill, although deals are available based on tonnage; pricing from Mexican mills are also level, FOB Texas, and are still on par with what’s being offered by US pipe producers