Prices, orders and inquires for US import J55 ERW OCTG casing may be on par with levels seen a week ago, with domestic spot prices for finished J55 ERW OCTG casing still trending at approximately $49.00-$50.00 cwt. ($1,080-$1,102/mt or $980-$1,000/nt), ex-Midwest mill, while futures offers for unfinished J55 electric resistance weld (ERW) oil country tubular goods (OCTG) casing from Korea and the Philippines remain steady at approximately $35.50-$36.50 cwt. ($783-$805/mt or $710-$730/nt), DDP loaded truck US Gulf Coast ports, but market sources say falling oil prices continue to be a concern.
Some traders say they think they will see a small uptick in order placement in the upcoming weeks, as customers think to first quarter arrivals, but they still feel the market will remain soft through the close of the year.