Fate of US import line pipe prices is uncertain

Wednesday, 26 February 2014 00:18:14 (GMT+3)   |   San Diego
       

Last week’s preliminary dumping margin announcement in the US oil country tubular goods (OCTG) anti-dumping case essentially took two Thai and two Vietnamese pipe producers out at the kneecaps due to preliminary margins in excess of 111.40 percent leveled against them. Although the final announcement is not due out until later this year, traders suspect there’s a better than average chance these mills could switch their focus to API X-42 line pipe, which could lead to downward pricing pressure within the market if offshore offers become increasingly aggressive.  For now, the most commonly reported transaction range from Taiwan and Vietnam are unchanged in the past week, still at $38.50-$39.50 cwt. ($849-$871/mt or $770-$790/nt) DDP loaded truck US Gulf coast ports, with Korean prices also unchanged and still coming in about $1.00 cwt. ($22/mt or $20/nt) higher.

Meanwhile, US domestic API X-42 line pipe producers continue to deal with their months-long Achilles heel, otherwise known as short lead times and overproduction.  Although the current average spot price transaction range is unchanged in the past week, still at $54.00-$55.00 cwt. ($1,191-$1,212/mt or $1,080-$1,100/nt) ex-Midwest mill, buyers are saying they’re taking a wait-and-see approach when it comes to pricing before making any speculative buys.


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