OCTG prices to rise in 2d half: TMK's Galitzine

Feb 05, 2013 | 12:19 PM | Thorsten Schier

Tags  OCTG, energy tubular, Piotr Galitzine, 6th annual Tube and Pipe conference, oil country tubular goods, Thorsten Schier

HOUSTON — Energy tubular prices are expected to pick up in the second half of this year as consumers come back into the market to replenish inventories, according to TMK Ipsco chairman Piotr Galitzine.

“We think some clients spent their 2012 budget early and therefore there was a drop in rigs, distributor desires (in order) to reduce inventories for year end tax reasons (and the) drop in demand for pipe consequently (led to) downward pricing pressure in the second half of 2012. We anticipate slight improvement in pricing in the second....

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