OCTG prices slide as trade case talk grows
Oct 03, 2012 | 02:27 PM
| Michael Cowden
Tags
oil country tubular goods,
OCTG,
Pipe Logix,
OCTG prices,
imports,
trade petition,
steel tube,
steel pipe
steel
CHICAGO — Prices for oil country tubular goods (OCTG) continued to slide in September as market chatter intensified about a potential trade case against South Korea and perhaps other OCTG-producing nations.
The long-standing rumors swirled as OCTG imports from Korea appeared to ramp up again in September despite falling prices and bearish market sentiment, according to U.S. government data.
"Business sucks. Nobody is buying," one trader said. "Everybody is waiting to see what happens (regarding a potential trade case)."
Another trader said that his company had decided to stop trying to chase low prices from some Korean OCTG producers because they left little room for profits. Still, he was hesitant to lend much sympathy to domestic mills. "The market is bad. Welcome to the club," he said. "I don’t see much changing through possibly the first half of next year."....
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.
Subscribe Now
Click Here
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.
Take a Free trial
Click Here