Buyers of import API X-42 electric resistance welded (ERW) line pipe in the
US are still keeping a close eye on the AD/CVD case against nine OCTG exporting countries. Trader sources still believe that the countries being investigated will eventually shift focus to offering more line pipe, and the increased competition could lead to downward pricing pressure. Although long term pricing expectations remain uncertain, for now, import offer prices for API X-42 ERW line pipe to the
US from
Korea,
Taiwan and
Vietnam have held steady for another week at $40.50-$41.50 cwt. ($893-$915/mt or $810-$830/nt) DDP loaded truck in
US Gulf ports.
Shifting focus to the
US domestic market, spot prices have held at status quo. The most commonly reported transaction range for API X-42 ERW line pipe continues to be between $54.00-$55.00 cwt. ($1,191-$1,212/mt or $1,080-$1,100/nt) ex-Midwest mill--unchanged in the past seven days. However, four-week lead times compounded by an overall weakness in the market is still allowing those who are interested in booking larger tonnages to negotiate deep discounts. Mass stock buys, though, are rare as buyers are only booking what is needed in order to fill inventory gaps.