US OCTG market “mostly bleak”

Tuesday, 06 August 2019 00:34:50 (GMT+3)   |   San Diego
       

SteelOrbis sources throughout the US have said that market conditions for US domestic and import J55 ERW OCTG casing are bleak at best. One Texas-based source said that this year is “probably the worst year we’ve had since I’ve been in the business,” adding that inquiries and order activity are mostly non-existent.

“People who are holding inventory are practically giving it away because they need cash flow,” a source said. “Everything is soft across the board.”

Another source agreed, citing poor drilling activity. “Drilling isn’t going to improve for the rest of the year, and without drilling activity the entire market is stuck.”

This week, prices for domestic and import (Korean) J55 ERW OCTG casing are being heard in the range of $50-$55 cwt. ($1,102-$1,213/mt or $1,000-$1,100/nt), ex-mill and DDP loaded truck in US Gulf coast ports, respectively.  Deals below this range are available on a case-by-case basis.


Most Recent Related Articles

US domestic line pipe market still sluggish

US OCTG market uncertain of “true price”

US HSS prices still soft, price increase possibly on the horizon

US line pipe prices

US HSS prices still soft, price increase expected to be imminent