Oil country tubular goods moved higher again this month, propelled by rising raw material costs and steady demand, according to industry sources, who said more increases are likely.
OCTG prices averaged $2,041 a ton, up $274, or 15.5 percent, from April, according to Pipe Logix Inc., a Santa Fe, N.M.-based affiliate of energy consulting firm Spears & Associates Inc., Tulsa, Okla.
"Every item tracked by Pipe Logix increased, though there is a large variation in the amount of increase," Kurt Minnich, Pipe Logix' manager, said. "Some items increased by less than 10 percent and some increased by over 25 percent."
Minnich said the disparity in pricing and the volatility indicates tight supply. "It demonstrates the absurdity of...
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