OCTG demand pickup seen as prices fall

Feb 28, 2013 | 03:46 PM | Thorsten Schier

Tags  Pipe Logix, OCTG, South Korea OCTG, line pipe, OCTG imports, Lynn Lupori-Gray, Thorsten Schier

NEW YORK — Some oil country tubular goods (OCTG) market players are seeing an uptick in demand even as prices remain in slow decline.

"We’re seeing a little uptick in demand. The extremely cold weather they’ve received from Canada all the way down to the southern U.S., in opposition to construction, is actually good for drilling oil and gas wells," one trader said.

An industry analyst agreed that demand is expected to improve in the near term, in line with recent comments made by large mills that the rig count might be at its lowest level for the year as previously declining gas rig numbers have stabilized while oil rigs continue to increase.....

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