U.S. OCTG Prices Jump 17% in September

North America FOB prices for oil country tubular goods rose 17% month over month to $3,031 per tonne in September, while Turkish welded-pipe prices increased $15/t to $635/t FOB before retreating from intra-month highs.

Regional steel-pipe markets moved in different directions during September as demand conditions diverged sharply between energy-sector tubular goods and construction-oriented welded pipe.

Kallanish data cited by GMK Center show average prices for oil country tubular goods (OCTG) on a North America FOB basis rising by 17% month over month, or $441/t, to $3,031/t.

In Türkiye, average welded-pipe prices increased by a more modest $15/t to $635/t FOB.

North America OCTG Prices Rise 17% to $3,031/t

The September increase extended the sharp strengthening seen in North American oil and gas pipe markets since late summer.

Average OCTG prices increased by $441/t from August to $3,031/t, equivalent to approximately 17.0%.

SteelPrices' previous monthly report placed the August North America FOB average at $2,590/t.

The market also experienced sharp intra-month adjustments, including a $248/t increase early in September and another $138/t move toward month-end, according to the source reporting.

For additional historical context, see: U.S. OCTG Prices Rose Nearly 11% Into Early September .

Tight OCTG Supply Supports Higher Prices

Market reporting cited constrained availability of steel inputs, higher production costs and strong preference for domestically produced OCTG as factors supporting the U.S. market.

Availability of seamless pipe remained particularly limited, encouraging some buyers to consider welded tubular products as alternatives where specifications allowed.

Buyers were also reported to be prioritizing domestic material to reduce logistics and delivery risk.

U.S. Rig Count Holds Well Above 2025 Levels

Higher drilling activity provides additional demand context for OCTG.

Baker Hughes reported 598 active U.S. drilling rigs for the week ending October 2, down one from the previous week but 49 rigs above the comparable 2025 level.

The total included 456 oil-directed rigs, 133 gas rigs and nine miscellaneous rigs.

Baker Hughes describes its rig count as a leading indicator of demand for products and services used in drilling, completion and hydrocarbon production.

The latest Baker Hughes update, released after the September pipe-price reporting period, put the U.S. count at 603 rigs on October 9, up five week over week and 56 from the comparable 2025 count.

EIA Raises 2026 Brent Forecast to $96.32/bbl

Elevated crude-oil prices continue to provide a supportive backdrop for drilling economics.

The U.S. Energy Information Administration's latest Short-Term Energy Outlook, released October 6, forecasts the 2026 Brent crude oil spot price at an average $96.32 per barrel.

The EIA currently forecasts WTI at $88.21/bbl on average for 2026.

Those figures supersede the earlier forecast cited in the source article, which placed Brent at $86.81/bbl and WTI at $80.88/bbl.

Turkish Welded Pipe Rises $15/t to $635/t FOB

Türkiye's construction-oriented welded-pipe market moved higher during September, but the gain was much smaller than the increase in North American OCTG.

Kallanish assessed average Turkish welded-pipe prices at $635/t FOB at the end of September, up $15/t during the month.

Prices had climbed to approximately $660/t during September before falling by $25/t toward month-end.

Export offers for S235 electric resistance welded (ERW) pipe had increased from $605–630/t FOB in late August and early September to $630–650/t FOB.

By early October, offers were reported at approximately $620–650/t FOB.

Higher HRC Costs Squeeze Turkish Pipe Producers

Turkish welded-pipe producers faced substantially higher hot-rolled coil costs during the period.

HRC, a key feedstock for ERW pipe production, was reported around $585–595/t in August and approximately $630–650/t EXW by October.

Despite the higher input cost, Turkish pipe producers were unable to pass the full increase through to buyers because of weak market conditions.

The divergence between HRC and pipe pricing indicates pressure on conversion margins rather than evidence that finished-pipe demand was strong enough to absorb all raw-material inflation.

For broader HRC context, see: Global HRC Market Shows Mixed Trends in September .

EU Trade Rules Add Pressure to Turkish Export Market

Demand from the EU and UK remained subdued during September, according to the market reporting.

Turkish sellers and buyers were focused on available EU quota volumes, while CBAM compliance and tighter steel-import access were cited as additional restraints on purchasing.

The EU's new steel measure took effect on July 1, 2026, establishing annual tariff-free quotas of approximately 18.3 million tonnes and a 50% out-of-quota duty.

The effect varies by product category and country allocation, so the broader EU measure should not be treated as meaning that every Turkish pipe shipment automatically faces a 50% tariff.

Broader Turkish steel trade conditions are covered in: Türkiye Steel Exports Rise 3.1% in January-August .

U.S. Duty Review Covers Large-Diameter Pipe, Not All Turkish ERW

The U.S. Department of Commerce published final results on October 6 from its 2024 countervailing-duty administrative review of large-diameter welded pipe from Türkiye.

Commerce determined a 3.34% ad valorem countervailable subsidy rate for HDM Çelik Boru Sanayi Ve Ticaret A.S. for the January-December 2024 review period.

Türkiye Construction Confidence Slips to 83.0

Domestic construction sentiment remained weak in September.

TurkStat reported that Türkiye's seasonally adjusted construction confidence index declined 0.2% month over month to 83.0, from 83.1 in August.

An index above 100 indicates optimism, while a reading below 100 indicates a pessimistic outlook.

The September level therefore continued to signal subdued sentiment in the construction sector, an important end-use market for welded pipe.

What Do September Pipe Prices Show?

September's data point to two distinct tubular markets rather than a broad global pipe-price rally.

North American OCTG prices accelerated sharply amid stronger drilling activity, tight supply and elevated energy prices.

Turkish construction-pipe prices moved higher on average but lost momentum late in the month, while producers faced a much larger increase in HRC input costs and weak demand from key export markets.

The evidence therefore supports a strong U.S. OCTG market and a comparatively constrained Turkish welded-pipe market, rather than a single global trend.

Primary pipe-price source: Kallanish, as reported by GMK Center.

Energy and drilling data: U.S. Energy Information Administration; Baker Hughes.

Türkiye construction data: Turkish Statistical Institute.

U.S. trade-remedy source: U.S. Department of Commerce, International Trade Administration.

Courtesy: GMK Center