Rig count levels are abysmal, global oil demand remains low, and crude production is still outpacing demand. Suffice to say, activity within the domestic J55 ERW OCTG casing and API X-52 line pipe markets is sluggish, at best.
Current pricing for domestic API-X52 line pipe is hovering at $46.50 cwt. ($1,025/mt or $930/nt), ex-mill, although discounts are said to be readily available. Domestic J55 ERW OCTG casing is also still holding at approximately $47.50 cwt. ($1,047/mt or $950/nt) ex-mill, although offers up to $2.50 cwt. ($55/mt or $50/nt), if not more, below that price point said to be available based on tonnages.
Activity and market sentiment have been described as “anemic, at best.”