Watch your step. OCTG buyers, unconvinced by July’s small price rise, are sitting tight as they await a fall. “It’s a very competitive market, you have to be very aggressive,” one distributor said.
by Michael Cowden
Oil country tubular goods (OCTG) prices eked out a gain for an eighth straight month in July, according to one widely followed industry index, but markets sources cautioned that prices appear to be softening or have already fallen on the back of lower tags for substrate, especially hot-rolled coil.
Glencore International AG and Standard Bank Plc are interested in buying metals warehousing company Pacorini, according to rumors in the market.
Weber Metals Inc., moving to gain control of its supply chain, is looking to boost its share of the aerospace titanium forgings market with a $30-million investment.
Canada’s Lakeside Steel Corp. plans to double its production capacity with a new, $40-million manufacturing plant in Thomasville, Ala.
Ferrous scrap prices into Turkey shot up again this week as mills there booked more cargoes ahead of Ramadan, which is set to begin Aug. 11, market sources said.
Live News
