The Americas/No respite in price decline

摘要

In August, seamless OCTG prices looked as if they had reached bottom, increasing by as much as 15 dollars/ton from the month before. Going into September, however, prices again fell in this market, especially for seamless casing. Seamless API 5CT J/K55 casing held at distributors declined 25-35 dollars/ton on average to 1,140-1,150 dollars/ton, and seamless API 5CT N80 casing is at 1,395-1,405 dollars/ton, falling as much as 40 dollars/ton in the past month. Tubing prices were a bit stronger, falling just 5-15 dollars/ton since early August. While expectations are for a price recovery this year, the story remains one of too much material for the existing demand.