Spot market prices for US domestic and import API X-52 line pipe continue to remain stable sources say, adding that last week’s pricing for US domestic API X-52 line pipe, which was heard at $55.25-$56.25 ($1218-$1240/mt or $1105-$1125/nt), ex-mill, remains within that range.
Pricing from Korea for US import API X-52 in the US domestic market, which was previously heard at approximately $42.50-$43.50 cwt. ($937-$959/mt or $850-$870/nt), DDP loaded truck in US Gulf coast ports, is also lateral week-over-week.
Market sentiment remains optimistic, sources note, adding that the Energy Information Administration has predicted that US crude oil production is expected to reach historic highs. US news outlets have also confirmed that US crude export levels now rival those of Kuwait, and that the research branch of Citibank is forecasting that US shale production will double within the next 60 months.