OCTG tags steady as rig activity holds while hot band falls

摘要

Oil country tubular goods (OCTG) tags held their ground in July despite a continued slide in hot-rolled band prices, according to market sources. One index of OCTG prices indicated that tags had edged up slightly, a move market sources generally agreed was indicative of an energy tubulars market that continues to experience strong demand thanks in no small part to increased demand for steel from shale plays. Average OCTG prices climbed 0.8 percent to $1,799 per ton in July from $1,785 per ton in June, according to Pipe Logix Inc., Tulsa, Okla. Average tags for welded products edged up 0.5 percent to $1,643 per ton compared with $1,634 per ton in June while averages prices for seamless material climbed 1 percent to $1,955 per ton in July from $1,936 per ton in the previous month, Pipe Logix said.