Research

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

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November 2014 | Seamless Steel Tube & Pipe


Saudi slow-down hits market: Middle East and North Africa Market Analysis


The Saudi market has seen a slowdown in the API market in recent months as inventory levels are reported to be high.

Chinese delivered prices for API 5CT J/K 55 7” casing with an API connection have continued to fall in the market, dropping down to, in some cases, below $800/tonne, with MBR placing the average delivered price at around $800-815/tonne cfr, down $15/tonne from last month. Regardless of the low prices being offered into the market, MBR believes at the moment that this is not having a significant impact on the overall market, as little tonnage is being sold at present.

...as API orders fall into Saudi Arabia...

The Saudi market has seen a slowdown in the API market in recent months as inventory levels are reported to be high. MBR believes there is still some demand coming for some of the proprietary grades in the country such as T95, although, in general, even here the proprietary grade and premium connection market is also thought to...

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