20
Jan
21:10
OCTG prices hold tight on oil, supply strength
US oil country tubular goods (OCTG) prices remained steady Friday due to gathering strength in oil and still-restricted supply, Kallanish reports.
Kallanish currently puts OCTG P110 domestic casing at $1,200-1,250/short ton.
One buy-side source says oil prices are a part of the new stability in OCTG, but supply is emerging as the dominant factor.
“It is tight,” he says. “[... Domestic mills] are ramping up, but not fast enough.”
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Anonymous
Very good overview of the weekly steel market.
Anonymous