US line pipe mills continue upward price push

Supported by strong demand including weekly increases in the US rig count, plus upticks in US domestic HRC prices, US domestic line pipe mills are reportedly continuing to push for higher prices, but with mixed results. Sources tell SteelOrbis that in general, the spot price range for US domestic API X-42 line pipe—which is only a slice of the contract-dominated market—is still around $47-$49 cwt. ($1036-$1080/mt or $940-$980/nt), ex-mill. But some customers are paying up to $0.50 cwt. ($11/mt or $10/nt) above the top end of the range.

 

Those prices could soon expand to the rest of the spot market, sources say, as soon as the most recent US domestic HRC price increase—$1.50 cwt. ($33/mt or $30/nt), announced last week—fully absorbs into the market and makes its way downstream to US domestic pipe prices.