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15 Feb

US OCTG pricing remains flat

For the fourth consecutive week, US prices for the OCTG representative product P110 5.5-inch casing are within a range of $2,000-2,090/short ton, Kallanish reports. The US added four new rigs the week ended 9 February, bringing the national total to 623, a decrease of 138 from the same week in 2023. “OCTG product usage is in direct correlation to the rig count," explains a Texas source. "If the rigs ‘ain’t turning to the right,’ …
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