Research

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

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October 2014 | Seamless Steel Tube & Pipe


Average gross profit for Chinese seamless OCTG mills close to zero: Asia Market Analysis


In the premium connections market we understand that Total has accepted Chinese TPCO’s TPCQ premium connection for their operations in the region particularly in Indonesia.

OCTG prices in South East Asia have softened recently in both the API and premium markets. Like the Middle East, the South East Asian market is also seeing increasingly competitive pricing being offered for API casing with a premium connection from the Brazilian market. Local producers in Brazil continue to struggle with poor domestic demand placing an increased focus on the export markets – South East Asia, despite its geographical distance from Brazil is not immune to this. For the first 5 month of 2014 Brazilian exports to the region accounted for just under 10 kt – this is a 14% growth y-o-y. MBR understand that the current offers to South East Asia from Brazil for J/K55 casing with a premium connection is around $1,700 cfr Singapore.

...with China also offering below typical market offers...

In the premium connections market we understand that Total has accepted Chinese TPCO’s...

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