Sources close to SteelOrbis continue to report that overall market activity is still slower than sellers would prefer.
“Overall, yes, it’s slower than we’d like,” a source said. “But I will say, the last 10 days or so we have had some decent orders happen. At the same time, I have had trading companies calling me to ask if I need anything. I have also had freight companies calling, asking if I have anything for them to move. These are usually unwanted red flags.”
Another source agreed.
“The OCTG market is slow and prices are weakening, which is mainly due to inventory sell-off. It seems most bought heavy for the anticipated shortages, which never materialized.”
Ex-mill pricing, however, remains level. As with last week, US domestic J55 ERW casing is being heard in the range of $64-$69 cwt. ($1,411-$1,521/mt or $1,280-$1,380/nt), ex-mill; Taiwanese J55 ERW OCTG casing is also unchanged week-over-week, at $65-$66 cwt. ($1,433-$1,455/mt or $1,300-$1,320/nt) DDP loaded truck in US Gulf coast ports.