In April 2014, Platts proposes to launch a monthly spot price assessment for Chinese seamless oil country tubular goods (OCTG). Currently, Platts reports on Chinese seamless OCTG, including market-observed prices in its regular commentaries about this commodity’s export market.
Platts’s new assessment is intended to reflect prices by the end of the month for the delivery FOB main Chinese port two to three months later. The new OCTG assessment will be made on the last business day of the month.
Platts seeks feedback on the standard API casing specifications to be used as the normalization basis for its new Chinese seamless OCTG assessment. Platts proposes to normalize API seamless casing specifications 4-1/2 inches, 13-3/8 inches, and grades J-55 to P110 to the following standard:
- Steel grade: API 5CT J55/K55
- Connection: BTC (buttress thread connection)
- Volume: Standard order volumes of 50 mt to 300 mt
- Outer diameter: 7 inch (177.8 mm)
- Thickness: 23 or 26lb/ft (8.05 or 9.19 mm)
- Length: Range 3 (10.36-14.63 meters or 34-48 feet)
- Location: FOB Tianjin
- Timing: Dispatch up to 12 weeks from date of assessment
- Payment terms: At sight via letter of credit
The price for this new assessment will be published as U.S. dollars per metric ton. This assessment will be published in Platts Daily Briefing and Platts Price Analyzer.
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Data Sources: Platts | Effective Date: April 01, 2014