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.