Pricing for import API X-52 line pipe in the US domestic market from Korea has remained steady week-over-week, at $43.50-$44.50 cwt. ($959-$981/mt or $870-$890/nt), DDP loaded truck in US Gulf coast ports.
Pricing out of Mexico has also remained lateral, at $50-$54 cwt. ($1102-$1191/mt or $1000-$1080/nt), FOB Houston, depending on the originating mill.
Buyers, however, continue to keep all eyes on oil prices. Current crude pricing is up approximately 50 percent from levels seen in June 2017, economists note, which is directly tied to production cuts from Russia and OPEC.
Other sources point out that despite those cuts, oil production remains robust; US oil production is currently fluttering at its highest levels in 50 years. The International Energy Agency this month said that at current, US production rates are expected to push past 10 million barrels per day during the current year.