SUBSCRIBER NOTE: Platts to add Chinese OCTG price assessment

Following feedback from customers in the global OCTG market, Platts plans to formalize its market reporting of Chinese seamless Oil Country Tubular Goods export trade by launching a monthly spot price assessment. Platts now includes market-observed prices in regular commentaries about the Chinese OCTG export market. Beginning March 31, Platts intends to launch a monthly assessment of this trade. Using information on bids, offers and transactions gathered throughout the month, the assessment will reflect the tradable value of OCTG FOB Tianjin on the last business day of the month for delivery eight to twelve weeks later. For example, the March 31 assessment would reflect the spot price of OCTG on that date shipping the end of May to the end of June. Platts will normalize API seamless casing with diameter between 4-1/2 inches and 13-3/8 inches, and in grades J-55 to P110, to the following standard:

Steel grade: API 5CT J55/K55 Connection: BTC (buttress thread connection) Volume: Standard order volume of 50 mt to 300 mt Outer diameter: 7 inch (177.8 mm) Thickness: 23 or 26 lb/ft (8.05 or 9.19 mm) Length: Range 3 (10.36-14.63 meters or 34-48 feet) Location: FOB Tianjin Timing: Dispatch from 8 to 12 weeks from date of assessment Payment terms: At sight via letter of credit

The price will be published as both US dollars/mt and US/foot. Both prices will include all relevant taxes. The assessment will be published in Platts Daily Briefing and Platts Price Analyzer. Please provide comments or questions to Dai Yuelin, yuelin.dai@platts.com, and Tomas Gutierrez,tomas.gutierrez@platts.com, with a copy to pricegroup@platts.com