Spot market prices for US domestic J55 ERW OCTG have ticked down approximately $1.00 cwt. ($22/mt or $20/nt) in the past seven days, from $60.00-$62.50 cwt. ($1,322-$1,378/mt or $1,200-$1,250/nt), ex-mill, to $59.00-$61.50 cwt. ($1,301-$1,356/mt or $1,180-$1,230/nt), ex-mill.
Sources close to SteelOrbis cite sluggish market conditions, soft HRC prices and this month’s downtrend in US scrap prices as factors behind the OCTG price drop. Meanwhile, import offers for Korean finished J55 ERW OCTG casing in the US domestic market are currently uncertain, as market players say they’re still waiting to hear the final Korean OCTG antidumping margins.