Import prices for
US import API X-42 ERW line pipe from
Vietnam, the Philippines and
Taiwan may be trending more aggressive than those of their Korean-mill counterparts, but the import market is still relatively soft. The most commonly reported transaction ranges from these countries is between $39.50-$40.50 cwt. ($871-$893/mt or $790-$810/nt), DDP loaded truck in
US Gulf Coast ports, whereas Korean prices have remained at $42.00-$43.00 cwt. ($926-$948/mt or $840-$860/nt), DDP loaded truck in
US Gulf Coast ports, all unchanged in the past week. Offshore mills who are currently the targets of antidumping (AD) investigations for oil country
tubular goods (OCTG) are hoping to regain
US market share by increasing line pipe exports, which, considering the general softness of this market, may prove to be futile; interest in booking futures remains relatively weak.
Meanwhile, spot prices for
US domestic API X-42 electric resistance welded (ERW) line pipe are also unchanged in the past week and the most commonly reported transaction range remains at $54.00-$55.00 cwt. ($1,191-$1,212/mt or $1,080-$1,100/nt) ex-Midwest mill. As with last week, distribution centers are less focused on making stock buys and are more focused on reducing inventories, a trend which is expected to hold steady through the end of the year.