PRICING NOTICE: Proposed amendments to steel tube & pipe assessment

Fastmarkets AMM proposes amendments to its monthly steel tube and pipe assessments:

  • OCTG, all J55 and seamless and welded P110 items: Change quantity to minimum 500 tons mixed order
  • OCTG, domestic J55: Specify BTC
  • OCTG, domestic seamless and welded P110: Change specification to semi-premium connection
  • OCTG, import J55: Split into two assessments – South Korean-made and non-Korean
  • OCTG, import J55 and import seamless and welded P110: Specify plain end
  • OCTG, all domestic and import seamless and welded L80 prices: Discontinue
  • Line pipe, import X42: Discontinue
  • Line pipe, import X52: Split into two assessments – South Korean-made and non-Korean
  • Line pipe, all X52 and X65 items: Change minimum quantity to 250 tons
  • Line pipe, X52: Specify outside diameters of 8-16in
  • Line pipe, X65: Specify outside diameters of 20in and greater
  • Line pipe: Launch a pricing assessment of US domestic X70
  • Line pipe, US domestic X60: Discontinue
  • Import seamless line pipe: Change minimum quantity to 100 tons; specify diameter of 4-8in

The proposed price specification for steel ERW line pipe (X70) fob mill US $/short ton is as follows:
Quality: API 5L, outside diameter 20in and greater
Location: fob US mill
Unit: Dollars per short ton
Quantity: Minimum 250 tons
Publication: Monthly, last Tuesday
Notes: Raw material surcharges included

The proposed changes are driven by recent evolution in demand, market participant interest and overall usefulness. 

The 60-day consultation period for this proposal begins on Tuesday July 30 and will end on Monday September 30. An update to this notice will be published that day. Changes would be set to take place – subject to market feedback – beginning Tuesday October 29. 

To provide feedback on these amendments, or if you would like to contribute price information by becoming a data submitter to these assessments, please contact Dom Yanchunas at pricing@fastmarkets.com. Please add the subject heading FAO: Dom Yanchunas, re: OCTG, line pipe.

To see Fastmarkets AMM’s pricing methodology and specification documents, click here.

Fastmarkets AMM has no financial interest in the level or direction of the price assessment.

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