Spot prices within the US domestic and import J55 ERW OCTG casing markets are mostly stable, but slightly softer than what was heard a week ago.
Most spot market prices for US domestic and import (Korean) J55 ERW OCTG casing continue to be heard in the range reported last week, at $50-$55 cwt. ($1,102-$1,213/mt or $1,000-$1,100/nt), ex-mill and DDP loaded truck in US Gulf Coast ports, respectively. However, sources tell SteelOrbis that the majority of orders are taking place at $52.50 cwt. ($1,157/mt or $1,050/nt), same conditions, with some deals reported below the level of $50 cwt. ($1,102/mt or $1,000/nt), based on large volume orders.
“It’s not pretty and doesn’t look to improve anytime soon," said one source, commenting on the OCTG market. "Everyone is looking forward to next year and hopeful demand will pick up.”