05
Dec
16:55
Falling rig counts anchor US OCTG prices
US oil country tubular goods prices have trended down from last week as the overall market remains depressed due to still-falling rig counts.
Kallanish puts P110 casing with a diameter of 5.5 inches at $1,000-$1,100/short ton, down from last week’s reading of $1,050-1,100/st.
Concurrently, both the US and Canadian rigs counts fell by seven net rigs, according to energy services company Baker Hughes. Both counts were more than double their current values…
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Anonymous
Very good overview of the weekly steel market.
Anonymous