US domestic API X-52 line pipe prices have declined again week-on-week, from $48.25-$51.00 cwt. ($1,064-$1,124/mt or $965-$1,020/nt) ex-mill, to $47.50-$50.00 cwt. ($1,047-$1,102/mt or $950-$1,000/nt) ex-mill. As in previous weeks, deals on domestic material are available based on tonnage.
As for import line pipe offers to the US, API X52 pipe from Mexico are unchanged this week, still offered at $45.50-$47.50 cwt. ($1,003-$1,047/mt or $910-$950/nt) FOB Texas.
Sources tell SteelOrbis the market is still concerned about the coronavirus outbreak in China and how it is affecting Chinese oil imports. According to news reports, the Organization of the Petroleum Exporting Countries (OPEC) on Wednesday lowered its 2020 demand forecast for its crude by 200,000 barrels per day (bpd), citing concerns surrounding the coronavirus outbreak in China, the world's biggest oil importer.