Pricing within the US domestic and import API X-52 spot markets continue to hold lateral; domestic mill spot market prices are still trending in the range of $64-$67 cwt. ($1,411-$1,477/mt or $1,280-$1,340/nt), ex-mill, while the lowest price from Mexican steelmakers for that same product is still being reported at $65 cwt. ($1,433/mt or $1,300/nt), FOB Texas, which includes the Section 232 tariff.
Earlier today it was reported that the number of land rigs in the US drilling for oil increased by 2 rigs, week-over-week, to 875. The current number reflects a 138 land rig increase from levels recorded during the same reporting period in 2017.