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
CRU: Longs pricing trends diverge in North, South America
Most longs prices in the US were unchanged this month, except for rebar, which declined by $1.50/cwt ($30/short ton) m/m. While end-use demand is stable, inventories are well-stocked, keeping purchases limited. Domestic availability is sufficient to meet current demand, hindering the appetite for imported material. Meanwhile, prices for scrap remained under pressure in June, with […]
Nucor cuts plate prices by $125/ton, cites ongoing competition
Nucor Corp. announced that its plate mill group would cut prices for as-rolled, discrete, and normalized plate with the opening of its August order book.
Nucor cuts HR price for fourth straight week
Nucor lowered its consumer spot price (CSP) for hot-rolled (HR) coil by another $10 per short ton (st) for the first week of July. The steelmaker said in a letter to customers on Monday that its CSP base price for the week will be $670/st for all of its sheet mills with the exception of California Steel Industries (CSI).
Cliffs sets $720/ton HR price with opening of August books
Cleveland-Cliffs on Tuesday announced its monthly hot-rolled (HR) coil price of $720 per short ton (st) with the official opening of its August order book. The rate is down from last month’s price of $800/st.
CRU: Demand weakness continues to weigh on global sheet markets
Demand has remained persistently weak across the globe for sheet steel, weighing on prices. US HR coil prices fell the furthest this week as high-volume, low-priced deals were transacted as mills looked to fill order books and competed with one another amid relative demand weakness. Meanwhile, European prices were also down due to low demand […]