OCTG prices slip, said not at bottom yet
Jun 28, 2012 | 10:34 AM
| Michael Cowden
TORONTO Oil country tubular goods (OCTG) prices have further room to fall before finding a bottom, traders and distributors said as one industry indicator showed a third consecutive monthly drop.
The traders and distributors pointed to a host of concerns, including domestic overproduction, imports, falling energy prices, political uncertainty in the United States and economic worries about Europe, China and other big emerging markets.
"Other than that, everything is just fine," one distributor said.
Average spot OCTG prices fell to $1,875 per ton for June, down 0.6 percent from $1,887 per ton in May, according to data from Tulsa, Okla.-based Pipe Logix Inc. Average spot welded OCTG tags stood at $1,731 per ton, down 0.5 percent, while average spot seamless OCTG prices slipped 0.7 percent to $2,019 per ton from $2,034 per ton in the same comparison.....
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.