US OCTG, line pipe market said ‘slow but stable’

Oil country tubular goods (OCTG) and line pipe prices and market sentiment in the United States were mixed amid growing concerns about the novel coronavirus (2019-nCoV) outbreak.

“It’s slower but stable,” one trader said. “Looking back over last year, we’re just at least a little bit more prepared for a flat market and it’s much more balanced. Last year was just a continuous big lag from the start.” Fastmarkets’ price assessments for steel ERW line pipe (X70), fob mill US and steel ERW line pipe (X65), fob mill US – both with outside diameters of 20 inches and greater – increased to reach $1,200-1,300 per short ton ($60-65 per hundredweight) on Tuesday February 25.  “It’s about what we forecasted, maybe a little bit better than we thought it would be but by no means is it good. The inquiries that are coming out now versus the beginning of the year have more substance...

Published

Elizabeth Ramanand

February 26, 2020

22:35 GMT

New York