Continuous year-over-year gains in oil rig counts and Friday’s morning rally in oil prices have lent optimism to the US energy pipe markets. In the early trading hours, Brent crude was priced above $64 per barrel, while WTI was trading at more than $57 per barrel. These prices, analysts say, are the strongest they’ve been in two years, adding that price firming is likely to continue through the close of the year.
Sources say demand for line pipe may be a bit flat for the moment due to the annual year-end wind-down, but pricing has remained stable. As such, prices for US import API X-52 ERW line pipe from Korea in the US continue to trend at $42.50-$43.50 cwt. ($937-$959/mt or $850-$870/nt), DDP loaded truck in US Gulf ports, while the most commonly heard price range for US import API-X52 ERW line pipe from Mexico has remained lateral week-over-week, at $46.50-$47.50 cwt. ($1025-$1047/mt or $930-$950/nt), FOB Houston.