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

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March 2020 | Seamless Steel Tube & Pipe

Seamless markets face instability: Americas Market Analysis

Early price assessments on Seamless OCTG and linepipe in March indicated that pricing was still maintaining a floor and higher raw materials costs, as well as slowly recovering demand would support a second-quarter price upturn.

Markets likely to turn downward quickly amid virus spread, oil price war
In recent issues of Seamless OCTG and Linepipe Market Tracker, we noted that the effect of reduced economic activity in Asia due to the coronavirus outbreak would likely ripple through the rest of the global markets and affect demand for energy tubulars in the other regions, including the Americas. The effect is now more wave than ripple with all the major regions affected by significant shutdowns in the wake of the spread of the virus. Oil prices are now trading at about half of where they were just at the start of the year, falling rapidly in the first two weeks of March. There is already pressure on energy producers, but since the length of the current situation remains unknown, the effect on the tubular market, is evolving.

Early price assessments on Seamless OCTG and linepipe in March...


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