OCTG producers slate $50-$100/T hikes

Nov 30, 2007 | 01:27 PM | Michael Cowden

Producers of oil country tubular goods (OCTG) are aiming to boost prices by $50 to $100 per ton on a range of carbon and alloy products in advance of expected increases in Chinese prices, market sources said Friday.

The price increases are being driven in part by reports that China will eliminate the export rebate on valued-added taxes (VAT) for OCTG and other products effective Jan. 1, according to sources who said they had heard the news from major Chinese mills.

If the VAT rebates are removed, it would automatically boost Chinese export prices by 5 to 15 percent, depending on the product, they said, and combined with increases in raw material, transportation and other costs, Chinese OCTG prices could climb by more than $100 a ton in coming months.....

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