KOC set to enter the market with a premium order

摘要

Chinese delivery prices of J/K 55 7" casing with an API connection have continued to fall into the MENA market this month despite the floor ofthe market perceived to have been reached in recent months. For small tonnage orders prices are being delivered as low as $8oo/tonne cfr, with our last month's price of $830/tonne cfr thoughtto be nearthe top-end ofthe prices being offered now. Chinese mills continue to struggle with poor local demand puttingthem in an increasingly desperate position when targetingthe export market. In general, we believe the size ofthe spot market for OCTG has reduced in the Middle East, with more orders being done directly in largertenders between approved mills and end-users such as National Oil Companies.