25
Oct
16:31
Destocking still anchors US OCTG prices
The US oil country tubular goods market is still in a severe destocking phase, Kallanish hears from market sources.
“The focus is on inventory reduction at any price, so there’s lots of downward pressure,” says one Gulf Coast buyer. “That push is rebalancing inventories more quickly than most expect. The rate of demand kill must be baked in, but it seems to me that inventories are dropping faster than demand.”
Kallanish helds it …
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Anonymous
Very good overview of the weekly steel market.
Anonymous