As in previous weeks, anemic rig count levels coupled with a marked drop off in global oil demand continues to be an Achilles heel for the energy pipe markets.
Pricing for domestic API-X52 line pipe remains consistent with what was reported last week, with spot market prices hovering at an average $46.50 cwt. ($1,025/mt or $930/nt), ex-mill, although discounts are 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 as with last week, 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.