Steel Products Prices North America
OCT Pipe to Build Pipe Mill in Nebraska
Written by Sandy Williams
November 1, 2015
At least one company is seeing better days ahead for the oil and gas industry. OCT Pipe announced it will build a one million square foot pipe mill in Norfolk, Nebraska.
CEO Charley Havens, of the Rockwall, Texas based company, said the $125 million facility will break ground soon and be operational by mid-2017.
OCT Pipe plans to source 350,000 tons of steel annually from the Nucor Steel Nebraska bar mill in Norfolk to produce drilling and production pipe for U.S. oil gas and production companies. An international division will market products to Africa and Asia.
OCT will be applying for tax incentives available through the Nebraska Advantage Act. The facility is expected to create 180 jobs.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Products Prices North America
Market says cutting interest rates will spur stalled domestic plate demand
Market sources say demand for domestic plate refuses to budge despite stagnating prices.
SMU Price Ranges: Some predict bottom is near as big discounts dry up
Sheet prices were mixed this week as some mills continued to offer significant discounts to larger buyers while others have shifted toward being more disciplined, market participants said.
SMU Price Ranges: Tags mixed as uncertainty weighs on market
SMU’s hot-rolled (HR) coil price held steady this week while prices for other sheet and plate products declined.
Nucor spot HR list price unchanged at $875/ton
Nucor kept its weekly list price for hot-rolled (HR) coil unchanged this week, following a price bump of $10 per short ton (st) last week.
SMU price ranges: Flat-rolled balloon continues to leak
Sheet and plate prices were flat or lower again this week on continued concerns about demand and higher production rates among US mills.