Following a 90-day consultation period, on Wednesday October 30 Fastmarkets instituted several amendments to its monthly price assessment for oil country tubular goods (OCTG) and line pipe in the United States due to market activity and interest.
The changes include the launch of five new prices, the discontinuation of eight others and updates to various product specifications to better reflect market volumes and preferences:
OCTG, all J55 and seamless and welded P110 items: Change quantity to minimum 500 short tons mixed order
OCTG, all J55 items: Specify width of 9.625 inches and weight of 40 lb/foot
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 - replacing single existing assessment, which will be discontinued
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 - replacing single existing assessment, which will be discontinued
Line pipe, all X52 and X65 items: Change minimum quantity to 250 tons
Line pipe, X52: Specify outside diameters of 8-16 in
Line pipe, X65: Specify outside diameters of 20 in 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 4-8 in
The proposed price specification for steel ERW line pipe (X70), fob mill US, $/short ton is as follows:
Quality: API 5L, outside diameter 20 in 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 above amendments will be introduced in the monthly assessment on November 26. Prices resulting from the monthly assessment on October 29 reflect the prior specifications and items.
All historical data relating to the discontinued prices will remain available in the pricing section of the Fastmarkets AMM website.
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 email@example.com. Please add the subject heading FAO: Dom Yanchunas, re: OCTG, line pipe.
Fastmarkets has no financial interest in the level or direction of the assessment.
To see all Fastmarkets’ pricing methodology and specification documents, click here.