Freight costs could drive OCTG prices up in 1st half
Nov 29, 2007 | 12:20 PM
| Michael Cowden
After more than a year of small but steady declines, spot prices for oil country tubular goods (OCTG) largely held their ground in November.
But prices could be poised to increase in the first half of next year due to increasing shipping costs, lower import levels and higher Chinese prices, industry observers said. A harsh winter in the northern United States also could drive up prices, they added.
The average spot price for selected OCTG items held at $1,365 a ton, f.o.b. Houston, according to data from Pipe Logix Inc., a Santa Fe, N.M.-based affiliate of Spears & Associates Inc., which tracks prices for distributors selling to end-users. Average prices for electric-resistance welded (ERW) items inched up to $1,300 a ton in November from $1,299 the previous month, although spot prices for selected seamless items slipped to $1,431 a ton from $1,432.....
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