Prices for OCTG pipes on North America FOB terms remained relatively stable in August, fluctuating between $2191 and $2218 per tonne after falling by 6% in July. During the same period, the price of WTI fell by 7.8% to $64 per barrel.
In this case, pipe prices correlated more with the situation on the US oil and gas market. According to Baker Hughes, the downward trend in the number of active oil and gas rigs in the US continued in August, although the pace of decline slowed. Last month, their number decreased by another five units to 536, while in July there was a decrease of 13 units.
According to Kallanish, prices for welded pipes on Turkey FOB terms rose by 3% or $18 to $593/t in August. This price dynamics fully corresponds to the change in the cost of hot-rolled coil on Turkey FOB terms, the price of which rose by only $5 last month to $545/t.
In August, the hot-rolled coil market in Europe showed moderate price growth amid weak demand and high activity of importers. The key factor behind the growth was not so much fundamental changes in demand as expectations of new trade restrictions from the European Union.
It should be noted that Interpipe is expanding its presence in foreign markets. The company has manufactured pipes for underwater operation in shallow water for the South Akçakoca Sub-Basin (SASB) gas field in the Black Sea for the first time. Interpipe has also started supplying premium pump and compressor pipes for gas production in Romania.
Courtesy : https://gmk.center/
