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Price notice: OCTG, line pipe amendments

Oct 28, 2019 | 03:20 PM | New York | Dom Yanchunas

Tags  steel prices, price notice, energy tubulars, oil country tubular goods, OCTG, line pipe, welded pipe, seamless pipe


Fastmarkets AMM proposes additional amendments to its monthly steel tube and pipe price assessments and has extended the market consultation period for the proposed changes by 30 days.

The latest proposed amendments appear below in bold type: 

OCTG, all J55 and seamless and welded P110 items: Change quantity to minimum 500 tons mixed order
OCTG, all J55 items: Specify width of 9.625in and weight of 40lb/ft
OCTG, domestic J55: Specify BTC
OCTG, domestic seamless and welded P110: Change specification to semi-premium connection
OCTG, import J55: Split into two assessments - South Korean-made and non-Korean
OCTG, import J55 and import seamless and welded P110: Specify plain end
OCTG, all domestic and import seamless and welded L80 prices: Discontinue
Line pipe, import X42: Discontinue
Line pipe, import X52: Split into two assessments - South Korean-made and non-Korean
Line pipe, all X52 and X65 items: Change minimum quantity to 250 tons
Line pipe, X52: Specify outside diameters of 8-16in
Line pipe, X65: Specify outside diameters of 20in and greater
Line pipe: Launch a pricing assessment of US domestic X70
Line pipe, US domestic X60: Discontinue
Import seamless line pipe: Change minimum quantity to 100 tons; specify diameter of 4-8in

The proposed price specification for steel ERW line pipe (X70), fob mill US, $/short ton is as follows:
Quality: API 5L, outside diameter 20in and greater
Location: fob US mill
Unit: Dollars per short ton
Quantity: Minimum 250 tons
Publication: Monthly, last Tuesday
Notes: Raw material surcharges included

The proposed changes are driven by recent evolutions in demand, market participant interest and overall usefulness.

A 60-day consultation period for this proposal began on July 30 and was due to end on Monday September 30. The extended consultation period will end on October 30. An update to this notice will be published on that day. Changes would be set to take place - subject to market feedback - beginning on November 26.

To provide feedback on these amendments, or if you would like to contribute price information by becoming a data submitter to these assessments, please contact Dom Yanchunas at pricing@fastmarkets.com. Please add the subject heading FAO: Dom Yanchunas, re: OCTG, line pipe.

To see all Fastmarkets AMM’s pricing methodology and specification documents, click here.

Fastmarkets AMM has no financial interest in the level or direction of the price assessment.


 

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