Last week's attempt by Korean mills to increase prices for US import API X-42 electric resistance welded (ERW) line pipe by $1.50 cwt. ($33/mt or $30/nt) is beginning to gain traction, although trader sources have confirmed that the most commonly reported transaction range is holding at $42.00-$43.00 cwt. ($926-$948/mt or $840-$860/nt), DDP loaded truck in US Gulf ports. The offer price range from Vietnam is also unchanged in the past week and is still between $40.50-$41.50 cwt. ($893-$915/mt or $810-$830/nt), DDP loaded truck in US Gulf ports. At the same time, those interested in booking larger tonnages are able to negotiate deals below these ranges based on the size of the order, but interest in placing orders for speculative tons remains weak.
Meanwhile, the most commonly reported spot price range for US domestic API X-42 ERW line pipe has remained at $54.00-$55.00 cwt. ($1,191-$1,212/mt or $1,080-$1,100/nt) ex-Midwest mill; reflecting no change in the past week. Lead times have held at about four weeks, and deals below the above stated range can still be negotiated on larger orders. Industry insiders, however, have said that order activity and inquiries for US domestic line pipe have started to slow due to Texas buyers' desire to minimize their year-end inventory tax.