Energy tube market challenging but nears floor

Jun 25, 2013 | 02:34 PM | Thorsten Schier

Tags  OCTG, oil country tubular goods, line pipe, energy tubulars, J55, X42, TMK Ipsco, Thorsten Schier

NEW YORK — Market conditions for energy tubulars remain challenging as competition for orders is fierce, market sources told AMM.

"Any type of inquiry that comes out is like raw meat: Everybody is fighting to get it," one southern distributor source said.

"Most tenders for bid are probably utilizing up to 15 to 20 vendors," a second southern distributor source said, adding that end users are in the driver’s seat as far as agreement terms go. "It’s a buyer’s market, and many end users are taking advantage of the situation." For example, some have specified that orders be fully cancellable or returnable.....

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