NEW YORK Distributor
selling prices for oil country tubular goods (OCTG) fell to a
26-month low in March, according to the latest data from Pipe
Average prices for all OCTG
products fell to $1,686 per short ton, down 0.9 percent from
$1,702 per ton in February, the Tulsa, Okla.-based company
said. This is the lowest level since January 2011, when prices
averaged $1,671 per ton.
Average welded OCTG prices fell
1.3 percent to $1,554 per ton compared with $1,574 per ton in
February, while average seamless prices fell 0.7 percent to
$1,818 per ton from $1,830 per ton in the same comparison.
Welded N80 production casing saw
the biggest price decline, falling 2.2 percent to $1,612 per
ton from $1,649 per ton the previous month. Meanwhile, both
seamless and welded J55 tubing notched slight increases, with
welded J55 prices rising slightly percent to $1,478 per ton
from $1,476 per ton and seamless J55 tags increasing 0.4
percent to $1,821 per ton from $1,814 per ton.
The continued decline in prices
comes even as shipments of OCTG were higher in the first month
of the year.
"Volumes of OCTG rebounded in
January to over 520,000 tons, with imports near 300,000 tons,"
Pipe Logix manager Kurt Minnich said in an e-mailed
Editor's note: This story was updated May 29, 2013. The
original version incorrectly stated the months' low for OCTG