US OCTG, line pipe prices catch up to coil price increases

Prices for certain electric-resistance welded (ERW) line pipe and oil country tubular goods (OCTG) in the United States have started to catch up to higher hot-rolled coil prices, and market participants have shown more interest in buying material, sources told Fastmarkets.

Fastmarkets’ price assessment for steel ERW line pipe (X52), fob mill US increased by $25 on the high end to $850-925 per short ton ($42.50-46.25 per hundredweight) on Tuesday October 27, up from $850-900 per short ton in September. Fastmarkets’ price assessment for steel ERW line pipe (X52) import South Korean-made, cif Houston similarly rose by $20 on the high end to $750-850 per ton on Tuesday from $750-830 per ton last month. “Pricing is screaming up, and lead times are pushing out into 2021,” one pipe distributor said. “[The lack of] coil availability is driving it; there’s no real pipe demand to speak of.” Fastmarkets’ daily steel hot-rolled coil index, fob mill US was calculated at $33.89 per cwt ($677.80 per ton) on October 27, up by 12.9% from $30.02 per cwt one month ago and 41.4% higher than $24.01 per cwt a year ago. Flat...

Published

Elizabeth Ramanand

October 28, 2020

20:23 GMT

New York