The US domestic line pipe market has been mostly stable in the past week, although sources close to SteelOrbis have said that mills have been increasingly willing to negotiate quiet deals.
As such, the most commonly heard domestic spot market prices for API X-52 line pipe are still in the “official” range of $64-$67 cwt. ($1,411-$1,477/mt or $1,280-$1,340/nt) ex-mill, while offers from Mexican mills are still being heard at $62.50-$65 cwt. ($1,378-$1,433/mt or $1,250-$1,300/nt), FOB Texas.
Global oil prices continue to be on the minds of many. On Thursday, news outlets reported that US crude production was nearing 12 million barrels today; weakening demand, which is largely tied to US-China trade relations, is also of concern.