US oil country tubular goods prices remained flat during the Thanksgiving holiday week, though market sources suggest some softness could be ahead.

The OCTG market shed most of the positive sentiment it had going into the Thanksgiving holiday due to slipping oil and stock prices, says one Gulf Coast market source.

“Things are cautionary this week,” he says. “The DOW got hammered, as did oil, and there is questioning of the final demand supply balance. It could some near-term problems.”

The source adds that he now expects softness in the near-term, whereas just a week ago he was predicting a slight price increase by year-end.

Kallanish maintained its representative P110 domestic welded casing price Friday at $1,550-1,600/short ton. All prices are ex-works, domestic mill.