US OCTG market remains lackluster

Tuesday, 25 June 2019 00:14:48 (GMT+3)   |   San Diego

As in previous weeks, the US domestic J55 ERW OCTG casing market continues to be hindered by less-than-exciting activity. Buyers have been reluctant to book tons due to downtrending prices, and many are reluctant to make any decisions until after scrap finishes trading in July. If scrap prices stabilize, this may help improve buyers’ sentiment, but early predictions are pointing to another downtrend in US domestic scrap prices next month.

In terms of prices, the average spot market price transaction range is still being heard at $57.50-$60.50 cwt. ($1,268-$1,334/mt or $1,150-$1,210/nt), ex-mill. As with last week, buying activity remains light.


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