Research

Forecasts and market analysis based on price assessments from Fastmarkets MB and Fastmarkets AMM

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July 2014 | Seamless Steel Tube & Pipe


Market activity retreats at the start of the third quarter: Americas Market Analysis


Distributors have been keeping a close watch on inventories, which is upholding distributor prices, but affecting demand for producers and traders looking to make a sale.

Last month, MBR noted a growing confidence surrounding the OCTG market over the potential for trade duties on imported OCTG to be revised higher. Into July, the market is quieter than in June while the political maneuvering – including by those outside the market – picks up speed. As this issue of Seamless OCTG and Linepipe is published, we continue to wait for the outcome of the final duty determination, expected 11 July.

Nevertheless, seamless OCTG and linepipe pricing continues to maintain footing and even increased modestly again over the past month. Prices are around $1,525/tonne for API 5CT J/K55 casing with BTC connection at distributors. We attribute the stability in prices to steady raw materials costs as well as disciplined inventory control by distributors. Indeed, scrap prices have, so far, been sustained in July, after a smaller than expected drop in June. The expectation is, as July prices continue...

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