OCTG Pipe Prices in North America Stabilize Amid Market Shifts

North America OCTG Pipe Prices Remain Stable in August

OCTG pipe prices in North America remained relatively stable throughout August, fluctuating narrowly between $2,191 and $2,218 per tonne FOB. This stability follows a sharp 6% price drop in July, signaling a pause in recent declines. The price trend closely aligns with developments in the US oil and gas sector, where rig counts decreased by only five units in August, slowing from July’s sharper drop of 13 units, according to Baker Hughes data.

Meanwhile, West Texas Intermediate (WTI) crude oil prices fell by 7.8%, closing at $64 per barrel. This divergence suggests that OCTG pipe prices now respond more directly to rig activity rather than crude prices alone. The correlation highlights the sensitive relationship between pipe demand and drilling operations across North America’s energy sector.

Rising Pipe Prices in Turkey and European Market Dynamics

In contrast, welded pipe prices on Turkey FOB terms rose by $18 per tonne, a 3% increase, reaching $593/t in August. This increase closely mirrors the rise in hot-rolled coil prices in Turkey, which climbed by $5 to $545/t. Kallanish reports that these price movements reflect shifts in raw material costs rather than a surge in demand.

European hot-rolled coil markets also showed moderate price growth despite weak demand and high importer activity. The main driver was the anticipation of new trade restrictions imposed by the European Union. These regulatory changes could impact supply chains and pricing, influencing the regional steel and pipe markets.

Furthermore, Interpipe is expanding its global footprint. The company recently produced pipes designed for underwater operations in Turkey’s South Akçakoca Sub-Basin gas field in the Black Sea. Interpipe also began supplying premium pump and compressor pipes for gas extraction in Romania, signaling increased market diversification.

SuperMetalPrice Commentary:

The stabilization of OCTG pipe prices in North America signals a cautious recovery tied closely to rig activity rather than crude oil prices. Meanwhile, Turkey’s rising welded pipe prices reflect material cost pressures and regional market dynamics influenced by EU trade policies. Interpipe’s strategic expansion into offshore and Eastern European markets shows how manufacturers adapt to evolving demand. Moving forward, monitoring rig counts and regulatory shifts will be key to understanding OCTG price trajectories globally.