US OCTG pricing “all over the map”

Tuesday, 23 July 2019 20:20:17 (GMT+3)   |   San Diego

Sources close to SteelOrbis say it’s hard to pinpoint an exact price for US domestic J55 ERW OCTG casing because pricing is “all over the map.” In the early part of July SteelOrbis reported that spot market prices were hovering at $51.00-$56.50 cwt. ($1,124-$1,246/mt or $1,020-$1,130/nt), ex-mill. Last week, it was heard that prices had dipped by an additional $1.50 cwt., to $49.50-$55.00 cwt.  ($1,091-$1,213/mt or $990-$1,100/nt), ex-mill.

This week, however, several sources have indicated that pricing for US domestic OCTG is still in the range of $52.50-$55.00 cwt. ($1,157-$1,213/mt or $1,050-$1,100/nt), ex-mill, while import offers from Korea are also trending in the same range (DDP loaded truck into US Gulf ports).

“Pricing is everywhere. Service centers that need cash are practically giving it away, while others are being more restrained,” a source said. “It’s impossible to pinpoint the average right now. It depends on what you need, who you’re buying it from and how desperate they are to move inventory.”


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