Distributor selling prices for oil country tubular goods (OCTG)
have risen for the first time since March 2012, buoyed by a
sharp rise in seamless L80 tubing tags, according to the latest
data from Tulsa, Okla.-based Pipe Logix Inc.
Average prices for all
OCTG products rose to $1,670 per ton in June, a 0.3-percent
gain from last month. Seamless OCTG tags rose 0.9 percent to
$1,813 per ton, but welded OCTG prices fell 0.4 percent to
$1,527 per ton, the lowest level in 39 months.
Average prices are
still 10.9 percent below $1,887 per ton in the same month last
The sharpest gain this
month was recorded by seamless L80 tubing, which rose 4.8
percent from May to $2,211 per ton, while the largest drop was
for the same grade of welded OCTG tubing, which fell 2.1
percent to $1,642 per ton.
Despite the slight
rise in overall prices, there is little to suggest a sustained
"Drivers for the
market are generally flat, with the rig count and OCTG
shipments changing very little over the past three months,"
Pipe Logix manager Kurt Minnich said in a statement, although
he added that the amount of well permits issued had improved
over the past four months.