US line pipe market trying to “ride out” still-plunging rig counts

Monday, 27 April 2015 23:20:16 (GMT+3)   |   San Diego
       

Market activity within the US domestic and import energy pipe sectors has been quiet; the most recent report from Baker Hughes places the US rotary rig count down 22 to 932 for the week of April 24, 2015.  The number of rigs drilling for oil fell by 31, to 703; sources say this is especially dismaying, considering the year-on-year number is down by more than 50 percent.   Other SteelOrbis sources report there just “isn’t a lot going on,” and that they’re still just “trying to ride this thing out.”

Prices, however, while mostly steady, continue to be flexible based on tonnages.  Spot prices for US domestic API X-42 ERW line pipe are still trending at approximately $45.00-$46.00 cwt. ($992-$1,014/mt or $900-$920/nt), ex-Midwest mill, while futures offers from Vietnamese and Taiwanese prices still holding at approximately $35.00-$36.00 cwt. ($772-$794/mt or $700-$720/nt), DDP loaded truck in US Gulf coast ports. Interest in futures continues to trend weak.


Similar articles

Local Chinese steel pipe prices mostly decline

28 Mar | Tube and Pipe

US OCTG exports up 26.8 percent in January

27 Mar | Steel News

India’s VSTL setting up greenfield steel pipe making unit in Odisha

27 Mar | Steel News

Japanese crude steel output down 3.8 percent in February from January

27 Mar | Steel News

India’s Welspun secures $62 million steel pipe supply contract in Saudi Arabia

26 Mar | Steel News

Some EU flat steel import quotas about to be exhausted near end of period

26 Mar | Steel News

Canada initiates review on line pipe from S. Korea

25 Mar | Steel News

India’s Welspun and Saudi Arabia’s Aramco terminate steel pipe supply contract

25 Mar | Steel News

US and Canadian rig counts both decline week-on-week

22 Mar | Steel News

US structural pipe and tube exports down 41.7 percent in January

22 Mar | Steel News