Pricing within the US domestic line pipe market has remained stable in the past week, at $67.50-$71.50 cwt. ($1488-$1576/mt or $1350-$1430/nt), ex-mill, although sources close to SteelOrbis have indicated that service centers have been increasingly willing to sell below replacement cost, due to a slowdown in activity.
A similar trend has been seen within other US domestic energy pipe markets.
Drilling activity, however, continues to be strong. Year-over-year oil exploration is up by more than 12 percent. Natural gas exploration, however, has declined year-over-year, which is believed to be tied to the high cost of energy pipe.