Sources close to SteelOrbis have described the domestic and import J55 ERW OCTG casing markets as being “more of the same.” Order activity is sluggish, inventories remain high and buyers are being cautious.
“No one is buying long-term and lead times are short domestically,” another source said. “Everyone is being cautious. The market is being externally driven based on global happenings and things that are happening in Washington D.C. No one knows what to expect and everyone is puttering on at the minimum.”
Another source agreed. “We’re lucky we haven’t taken any hits on inventory, because at this point, we’re mostly dealing as brokers,” a source said.
In terms of pricing, domestic and import offers are stable week-over-week. US domestic J55 ERW OCTG casing continues to be heard in the range of $60.00-$62.50 cwt. ($1,322-$1,378/mt or $1,200-$1,250/nt), ex-mill, while spot market prices for Korean finished J55 ERW OCTG casing in the US domestic market continues to be heard at approximately $62.50 cwt. ($1,378/mt or $1,250/nt), ex-warehouse.