US domestic J55 ERW OCTG casing spot market prices seem to have stabilized since our last report a week ago.
Current pricing for unfinished domestic J55 ERW OCTG casing on the spot market is trending between $60-$65 cwt. ($1,322-$1,433/mt or $1,200-$1,300/nt), ex-mill, although sources still feel that mills are open to negotiating price.
Other sources have reported hearing deals about on-the-ground, finished J55 ERW OCTG casing from Korea at approximately $62.50 cwt. ($1,378/mt or $1,250/nt), from a service center.
“Taiwanese J55 casing is out there too, at $1.00-$2.00 cwt. ($22/-$44/mt or $20-$40/nt) below Korean pricing,” a source said.
Overall market activity continues to trend light, which has many questioning whether spot market prices will be prone to additional downward revisions before the end of the year.