Sources close to SteelOrbis have confirmed that many energy pipe market players are still on break for the holidays, and that normal market activity is not expected to resume until next week. Those who are in the office, sources note, are “mostly cleaning up old paperwork and following up on emails.”
As such, market conditions within the US OCTG and line pipe markets are stable, due to lagging holiday-related activity levels.
As of mid-December, sources had noted that “on the ground,” Korean API X-52 line pipe had been selling for as low as $42.50 cwt. ($937/mt or $850/nt), ex-warehouse, with new Korean material (for future shipment) was transacting at roughly $48.00 cwt. ($1,058/mt or $960/nt), DDP loaded truck in US Gulf coast ports.
US domestic line pipe for Q1 production was last heard in the range of $49.50-$52.00 cwt. ($1,091-$1,146/mt or $990-$1,040/nt), ex-mill.
In terms of J55 ERW OCTG casing, on-the-ground import J55 casing from Korea was last heard to be selling, in some cases, at price points as low as $42.50-$44.50 cwt. ($937-$981/mt or $850-$890/nt), ex-warehouse. US domestic OCTG prices remain stable at $50-$55 cwt. ($1,102-$1,213/mt or $1,000-$1,100/nt) ex-mill.