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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