The most commonly heard offer pricing for US import J55 ERW OCTG casing from Taiwan in the US domestic market has jumped up, from $34.00 cwt. ($750/mt or $680/nt), DDP loaded truck in US Gulf coast ports, to $35.50-$36.50 cwt. ($783-$805/mt or $710-$730/nt), DDP loaded truck in US Gulf coast ports.
Pricing for US import OCTG casing from Korea in the US domestic market is currently being heard at $37.50 cwt. ($827/mt or $750/nt), DDP loaded truck in US Gulf coast ports. In comparison, in early November, prices for import oil country tubular goods tubing from Korea in the US domestic market were heard at $33.50-$34.50 cwt. ($739-$761/mt or $670-$690/nt), DDP loaded truck in US Gulf coast ports.
Sources close to SteelOrbis say they are keeping a close watch on oil barrel prices, noting that if oil prices climb from their current level, $52.47, to $60 per barrel, that previously stalled drilling projects may resume, which could help increase demand for OCTG casing in 2017.