Cheap oil prices and falling rig counts have remained the Achilles Heel for the domestic and import API X-52 line pipe markets. Last week, SteelOrbis reported that the average spot market price range for domestic material was trending in the range of $46.50-$48.00 cwt. ($1,025-$1,058/mt) or $930-$960/nt), ex-mill. This week, although that range is still “mostly accurate,” deals are said to be available.
In terms of Mexican material, trader sources have said that the average spot market price range is trending between $43.25-$44.25 cwt. ($954-$976/mt or $865-$885/nt), FOB Texas.
Market activity, sources say, “is light at best.”