The most commonly heard spot market price range for US domestic J55 ERW OCTG casing has narrowed since our last report a week ago, from $60-$65 cwt. ($1,322-$1,433/mt or $1,200-$1,300/nt), ex-mill, to $60.00-$62.50 cwt. ($1,322-$1,378/mt or $1,200-$1,250/nt), ex-mill.
Sources close to SteelOrbis are noting that activity continues to be sluggish, which has placed downward pricing pressure on the market. “There are a few service centers that are selling at below replacement cost,” a source said. “All in all it’s been a slow few weeks.”