US OCTG prices stable after last week’s dip

Tuesday, 11 June 2019 23:52:24 (GMT+3)   |   San Diego
       

Last week, SteelOrbis reported that  US domestic J55 ERW OCTG casing had softened by about $1.50 cwt. ($33/mt or $30/nt) on the bottom end, and by $1.00 cwt. ($22/mt or $20/nt) on the top end, which brought the average spot market price transaction range to $57.50-$60.50 cwt. ($1,268-$1,334/mt or $1,150-$1,210/nt), ex-mill.

Although price points have been largely stable since our last report a week ago, some have expressed concern that this month’s drop in US scrap prices, combined with falling rig counts, could place additional downward pressure on market prices.

 


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