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08 Jun

US P110 5.5-inch prices holding despite excessive supply

US OCTG representative product P110 5.5-inch prices have held between $2,640-2,710/short ton on the week, Kallanish understands. Last week, the prices decreased to their current levels from where they stood at $2,780-2,850/st in the previous week as the markets slowed and supply built up.  “The whole industry is overstocked in P110 5.5-inch. Spot pricing reflects it,” says a distributor. Rig counts have been in flux with the US losing 15 operati…
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