Cheap oil prices and disputes within OPEC regarding possible stabilization of oil production rates continue to challenge the US domestic and import API X-42 line pipe markets. Korean producers have reduced US futures pricing by approximately $2.00 cwt. ($55/mt or $50/nt), bringing current offer prices to $30.50-$32.50 cwt. ($672-$717/mt or $610-$650/nt), DDP loaded truck in US Gulf coast ports. On the ground Korean API X-2 line pipe, however, is said to be available for less.
US domestic prices are also unstable. Ex-Midwest mill prices may have trended steady at approximately $45.00-$46.00 cwt. ($992-$1,014/mt or $900-$920/nt), other SteelOrbis sources say that this number is negotiable. Sales prices at the service center level, however, are reportedly “much cheaper,” as many sales reps are working to turn over higher prices inventory as a means of getting cash flow.