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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 slows for Ramadan: Middle East and North Africa Market Analysis


On the Jebel-Ali spot market, offers of Chinese J/K55 7” casing with an API connection continues to be offered into the market at around $830-850/tonne cfr.

This month in the Middle East and North African (MENA) OCTG market, there is little movement in terms of major National Oil Companies (NOC’s) OCTG tenders being completed. The large order from ADNOC’ ADCO division that we announced in the March edition of Seamless OCTG & Linepipe for over 150kt of OCTG for the groups H2 2015/2016 requirements was initially expected to be awarded in June. However, MBR understands that this tender has currently now gone through two technical rounds, with a third one still to be completed, as a result the contract is still yet to be awarded. With the onset of Ramadan now, followed by the Eidh al Fitr festival, we understand that it is unlikely that the commercial tender will now be issued until September. Similarly, the large 150kt order for Kuwait Oil Company (KOC) that we discussed in our April edition is still in its bidding...

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