US domestic J55 ERW OCTG casing spot market prices have softened for the second time in as many weeks, although sources close to SteelOrbis are unable to agree by how much.
The most commonly held belief is that prices are down “by at least $1.50 cwt. ($33/mt or $30/nt)”, which would bring the official spot market price range for unfinished J55 casing to $60-$65 cwt. ($1,322-$1,433/mt or $1,200-$1,300/nt), ex-mill, although several other sources have cited a strong belief that this pricing “may just be the starting point for negotiations.”
“I think anyone who went back to the mills and asked them to get real with their pricing, they’d knock something off that,” a source said. “Orders are slowing down and the mills have plenty of margin to work with. They have room to negotiate.”