Prices for US domestic API X-52 line pipe may still be trending at $71.25-$73.75 cwt. ($1571-$1626/mt or $1425-1475/nt) ex-mill, but sources throughout the marketplace question if prices will continue to rise, should US HRC prices continue to inch up.
Earlier today, SteelOrbis reported that while flat rolled steel mills have stopped sending out price increase letters, that’s not to say they aren’t quietly, and successfully, pushing for higher prices. Some buyers have indicated that mill sales reps are holding firm lines with pricing, suggesting that higher prices can either be accepted, or that buyers can go without their steel.
Sources say these strong-arm tactics are causing prices for all sorts of downstream steel products, including domestic energy pipe, to inch upward as well.
Also of note is today’s uptick in global oil prices, which has been attributed to US sanctions against Iran that threaten to remove a significant amount of oil from the global market. US West Texas Intermediate crude settled at $74.15 per barrel, while Brent crude settled at $79.45 per barrel.