Research

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

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July 2016 | Seamless Steel Tube & Pipe


Kuwait tender announced, spot market quiet: Middle East and North Africa Market Analysis


Iraq is one of the major buyers in the Middle East market for spot material, as this drilling market is far more heavily dominated by IOCs drilling as opposed to one major NOC such as Saudi, Kuwait, UAE etc.

The GCC spot market for Seamless OCTG and linepipe market in the Middle East has been very quiet over the past month amid lower business activity during Ramadan and Eid Al-Fitr holidays, when most participants preferred to stay out of the market. In the seamless linepipe market, import offers of Ukrainian API 5L B/X42 grades are at around $760-780/tonne cfr, $20/tonne lower month-on-month. In the OCTG market, MBR believes there has been little movement in offer prices this month for OCTG casing and tubing, with import prices remaining at around $560/tonne for 7” J/K 55 casing.

...as little activity in Iraq

Iraq is one of the major buyers in the Middle East market for spot material, as this drilling market is far more heavily dominated by IOCs drilling as opposed to one major NOC such as Saudi, Kuwait, UAE etc. The NOCs tend to...

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