As with last week, spot market prices for US domestic API X-52 ERW line pipe continue to hold in the range of $61-$64 cwt. ($1,344-$1,411/mt or $1,220-$1,280/nt), ex-mill; SteelOrbis sources have confirmed that import prices from Mexico are also in that range, FOB Texas.
“Mexico is right around the same level as domestic,” a source said. “Never thought I’d see import and domestic in the same price range, but here we are.”
Activity for the month of February, sources said, had been slower than normal, which is making some market players a bit anxious.
In terms of current rig counts, the most recent data from Baker Hughes indicates that for the week ending March 1, 2019, the number of US rotary rigs drilling for oil was recorded at 843, a 10-rig decrease from the previous week.