Spot market prices within the US domestic API X52 line pipe market continue to be soft, with prices still trending in the range of $45-$48 cwt. ($992-$1,058/mt or $900-$960/nt), ex-mill.
Market conditions in the past week have largely mirrored what’s been seen in weeks prior. Activity in the oil sector continues to be weak, and the rig count is still much lower than energy pipe sellers would prefer.
“The only positive thing I can think of in relation to the market, is that a lack of investment in the energy sector will eventually lead to production falling and someday another small boom,” a source said. “Until then, the market will remain bleak.”