The
US domestic and import oil country
tubular goods (OCTG) market has remained level since our last report a week ago, with pricing, order activity and inquiries holding stable. Futures offers from
Korea continue to trend at approximately $52.00-$53.00 cwt. ($1,146-$1,168/mt or $1,040-$1,060/nt), DDP loaded truck in
US Gulf coast ports, although trader sources say they are aware of deals about $1.00 cwt. ($22/mt or $20/nt) below that range. And although new offers from Taiwanese mills have not yet been reported, they are expected to materialize in the near future.
However, domestic prices, which are still at $59.00-$61.00 cwt. ($1,300-$1344/mt or $1,180-$1,220/nt) ex-Midwest mill, may change as the summer comes to a close. Sources close to SteelOrbis still cite a belief that energy pipe producers will adjust their asking range, and further, that flats mills could take advantage of the trend and bump prices up as well.