Oil country tubular goods (OCTG) prices trended lower in November as distributor sentiment turned south, although inventory and shipping numbers indicate some rumblings of recovery."Inventory direction and import trends are the sole positive components to the (distributors' sentiment) index," said Kurt Minnich, manager at Tulsa, Okla.-based Pipe Logix LLC, as the index fell to 30 in November from 36 in the preceding two months to match the level seen in August. A sentiment ranking below 50 indicates a contracting market.
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