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

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March 2019 | Seamless Steel Tube & Pipe


CNOOC issues much larger H1 OCTG tender in China: Asia Market Analysis


Comparing the tonnages with last year’s H1 tender, CNOOC’s tender for the first half of 2018 amounted to less than 50kt before it issued another 70kt open tender in June/July for the rest of the year.

CNOOC’s H1 OCTG tender this year is much larger in volume than 2018
In Q1, CNOOC has come out with its H1 tender for OCTG in the domestic Chinese market; we understand that the total tonnage this time is much larger than what the NOC required during the first half of 2018. Total tonnage requirements are expected to reach 200kt, including both API and chromium grades. The chromium grades, includes requirements for around 4kt of 13Cr orders, and we believe that a leading tier 1 player in China has won the 13Cr portion of this tender in its entirety.

Comparing the tonnages with last year’s H1 tender, CNOOC’s tender for the first half of 2018 amounted to less than 50kt before it issued another 70kt open tender in June/July for the rest of the year. The increased tender volume we saw this month could suggest the NOC’s attempt...

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