Sources within the US domestic and import J55 ERW OCTG casing market say that conditions have been mostly lateral; service centers have reported that inventory levels are still bloated and as such, mills have been reluctant to raise prices.
If anything, a source said, sellers have been willing to cut deals as a means of garnering orders.
Domestic spot market prices for US domestic J55 ERW OCTG casing are still trending at $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."
As with last week, offer prices from Mexican mills are nearly on par with prices in the domestic market.