The Argus Pipe Logix OCTG Index retreated from its peak of $3,867/short ton in October 2022 to $2,101/st by December 2023, a decline of 46pc in 14 months, reversing the gains realized in 2022. Reduced HRC and scrap costs, fewer rigs, and OCTG supply that was sluggish to react to declining demand all contributed to the decline in OCTG pricing.
This Insight Paper includes analysis of some of the key factors that are affecting the US OCTG market at present:
- OCTG price trends and annual price changes
- US OCTG imports and supply dynamics
- HRC vs OCTG ERW prices
- Scrap vs OCTG prices
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As a leading authority on energy and commodity markets across the globe, Argus is uniquely positioned to provide in-depth analysis and expert thought leadership. Our white papers are carefully written by Argus specialists from across our company. Each white paper focuses on a topical theme, exploring areas such supply and demand dynamics, price trends, trading activity and changing regulations. We always aim to provide a balanced view, underpinned by data and insight gathered first hand from the market.