Research

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

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October 2019 | Seamless Steel Tube & Pipe


No recovery yet in seamless pricing: Americas Market Analysis


Scrap merchants are now resistant to agree to any more declines and have stated they are looking for stable pricing for November sales.

Prices slip in October on weak fundamentals and costsSeamless OCTG and linepipe prices are down another $20-30/tonne in October. Seamless OCTG prices were cut by $30/tonne on the back of ample supply availability amid limited demand through the value chain. Operators are working through their current year budgets and are not building up any new stock of pipe. Meanwhile, distributors, facing the threat of selling their current inventory at near or below loss, are staying away from the market unless they have a particular order to fill. This has left tonnage at pipe producers high. With raw materials costs dropping, seamless producers still have room to offer discounts on their material, maintaining the circumstances we noted last month with domestic producers offering material at lower prices to the tonnage recently shipped.  Import prices are falling at a faster rate than domestic prices with steep drops in offers for material. The...

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