High inventory levels and less-than-exciting order activity is continuing to hinder the US domestic and import API X-52 line pipe markets. As such, pricing has remained lateral.
The average spot market price for US domestic API X-52 line pipe is still trending between $60-$63 cwt. ($1,323-$1,389/mt or $1,200-$1,260/nt), ex-mill, although as in previous weeks, deals at the service center level are rampant. Mexico import API X-52 line pipe is also being sold at the same range, FOB Texas.
Mexico, however, is continuing to put pressure on the Trump administration to remove Section 232 tariffs on steel exports as part of the USMCA trade agreement. Trump, however, remains defiant and is signaling that the tariffs are likely to remain in place for the foreseeable future.