US oil country tubular goods pricing is still in a holding pattern, but that may soon change as the market picture solidifies, Kallanish hears from market sources.

Kallanish maintained its pricing for representative product P110 domestic welded casing at $1,300-1,350/short ton. All prices are ex-works, domestic mill.

“I heard, unconfirmed, that domestics are starting to inch up pricing,” says one Gulf Coast buyer. “It’s not likely to get much traction until their order book extends into the third quarter. Also, a better understanding of whether the commercial strategy of the recent combination of two major mills will move the market – particularly if they close some capacity and sell direct, excluding distribution.”

Pricing for associated product line pipe continued its downward slide in March, the eighth consecutive month of declines. That trend is unlikely to reverse until the regulatory environment becomes more clear, says a Gulf Coast trader.

“November 2020,” he says, the month of the US presidential election. Should President Donald Trump win a second term, “... then he will double-down on what he has already done. It’s good for business,” the trader says.