OCTG price hike could be a defensive move

Feb 20, 2013 | 01:54 PM | Thorsten Schier

Tags  oil country tubular goods, OCTG, Vallourec & Mannesmann USA, V&M, Thorsten Schier

NEW YORK — A domestic steel mill’s announcement that it would boost prices on oil country tubular goods (OCTG) could be a defensive move in a sluggish economic environment, market sources told AMM.

"They increased their prices not necessarily because of demand, but because they don’t want to see any further deterioration in pricing," one southern distributor source speculated.

The long lead-up to Houston-based Vallourec & Mannesmann USA Corp.’s $100-per-ton hike on carbon and alloy tubing, which doesn’t come into effect until the beginning of April (amm.com, Feb. 19), also points to an effort to shore up order books as buyers will look to purchase ahead of the increase, sources said.....

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