Excess OCTG keeps prices low: Russel

Aug 08, 2013 | 06:01 PM | Corinna Petry

Tags  Russel Metals, Brian Hedges, oil country tubular goods, anti-dumping complaint, domestic supply, OCTG imports, China OCTG, OCTG pricing Corinna Petry

CHICAGO — Excess inventory of oil country tubular goods (OCTG), caused in part by flooding that delayed drilling projects in western Canada this spring, will prevent the recent run-up in carbon flat-rolled steel prices from moving to pipe and tube products in the near term.

OCTG "remains very competitive (on price) because there is a lot of product out there," Brian R. Hedges, president and chief executive officer of service center operator and oilfield products supplier Russel Metals Inc., said during an Aug. 8 earnings call.....

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