Rising rig counts and favorable oil prices have helped bolster activity within the US domestic and import line pipe markets.
“We’re still really busy,” one source said. “We don’t have enough pipe in stock, or inbound, to meet the amount of jobs we’re bidding.”
In terms of pricing, sources close to SteelOrbis report they’ve received offers for Korean API X-52 line pipe in the US domestic market at $42.50-$44.00 cwt. ($937-$970/mt or $850-$880/nt), DDP loaded truck in US Gulf coast ports, although some have reported receiving bids up to $0.50 cwt. ($11/mt or $10/nt) higher.
Prices for Mexican API X-52 line pipe in the US domestic market, which were previously heard at $45-$46 cwt. ($992-$1014/mt or $900-$920/nt), FOB Houston, have since increased. This week SteelOrbis has confirmed that the new offer price from Mexican steelmakers “is closer to $49.50-$51.50 cwt. ($1091-$1135/mt or $990-$1030/nt), FOB Houston.