Spot pricing for US domestic J55 electric resistance welded (ERW) oil country tubular goods (OCTG) casing has trended sideways since our last report a week ago. Spots remain on par with the first week of July and continue to be seen in the $63.00-$65.00 cwt. ($1,389-$1,430 /mt or $1,260-$1,280/nt) range, ex-Midwest mill. The neutral trend this past week came as no surprise according to SteelOrbis sources, especially since transactions throughout the latter part of the 4th of July holiday week were sparse due to offices being closed or employees taking advantage of vacation time.
Taiwanese and Korean import J55 ERW OCTG casing offers to the US have also remained neutral after experiencing a $1.00 cwt. ($22/mt or $20/nt) drop from the last week in June to the first week in July. Taiwanese and Korean ERW OCTG casing prices continue to be reported at $47.00-$49.00 cwt. ($1,036-$1,080/mt or $940-$980/nt) DDP loaded truck in US Gulf ports. Vietnamese offers are still being seen about $0.50-$1.00 cwt. ($11-$22/mt or $10-$20/nt) higher, and deals continue to be available to those wishing to deal in quantity. End-of-year lead times, though, are garnering weak interest among traders when it comes to offshore purchases.