US domestic pricing for API X-52 line pipe continues to hold at approximately $67.50-$70.00 cwt. ($1488-$1543/mt or $1350-$1400/nt), ex-mill, with sources close to SteelOrbis indicating they do not believe there will be any change to price or demand in the upcoming week, especially in light of the Memorial Day holiday.
And while US energy pipe pricing is expected to remain stable for the rest of the month, market sources say they’re keeping close tabs on today’s oil price slump; prices fell by approximately $2 per barrel on Friday, after Russia and Saudi Arabia discussed increasing output.
As of mid-day Friday, Brent crude futures fell by $2.17 to $76.62 per barrel; last week, prices hit $80.50. US West Texas Intermediate futures fell by $2.48 to $68.23 per barrel.