OCTG slide shocks mart; China leads import surge
Dec 27, 2007 | 02:08 PM
| Michael Cowden
Spot prices for oil country tubular goods (OCTG) resumed their slide in December after largely holding steady the prior month, surprising some industry observers who had expected higher prices in the wake of lower imports in November and mill price hikes.
Some observers argued that the dip was a year-end anomaly and that prices will shift upward in the first quarter, but others insisted that prices will continue to trend downward despite the best efforts of the domestic mills because of decreased demand and persistently high inventories.
The average spot price for OCTG slipped to $1,357 a ton, f.o.b. Houston, down $8 (0.6 percent) from $1,365 in both November and October, according to data from Pipe Logix Inc., a Santa Fe, N.M.-based affiliate of Spears & Associates Inc. that tracks prices for distributors selling to end-users. The average spot price for electric-resistance welded (ERW) products fell to $1,289 a ton, down $11 (0.8 percent) from $1,300 a ton in November, and the average price for seamless products slid to $1,425 a ton, down $6 (0.4 percent) from $1,431 a ton.....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.