Research

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

Change font size:   

May 2015 | Seamless Steel Tube & Pipe


NOCs control pricing power: Middle East and North Africa Market Analysis


MBR understands that ADNOC continues to evaluate the bids for its giant ADMA tender.

Prices for OCTG remain under pressure in the Middle East. In the mill to end-user contract business, demand remains robust in this part of the world – particularly with the major NOCs.

ADMA mulls tender...
MBR understands that ADNOC continues to evaluate the bids for its giant ADMA tender. There is speculation in the market that some very aggressive pricing has been undertaken by some of the leading (non-Chinese) established producers in order to ensure a significant portion of this huge tender. This is difficult to confirm, but there could be some validity in this. Mills were asked to resubmit prices to ADMA in March. At this time, the global market was declining quickly for OCTG demand and this could have placed pressure on mills to lower prices in order to secure tonnage.

Many of the international mills competing in this tender such as Tenaris, Vallourec, NSSMC etc. have all...

ACCESS RESTRICTED

You must be a paid subscriber to view the full content.
Content over 60 days old can only be accessed by subscribers.
Call +44(0)20 7779 8000 with your credit card details or subscribe online.


SUBSCRIBE


Receive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts. Plus download the latest issue as soon as it’s published.

Subscribe


Already subscribed?