Despite a recent uptick in domestic US pipe prices, activity for most import pipe products remains quiet.
Traders informed SteelOrbis that interest in foreign prices to the US experienced a slight uptick a couple weeks ago, after US domestic mills announced their $2.00 cwt. ($44 /mt or $40 /nt) pipe increase; however, most import offers were still too close to US domestic offers for buyers to consider pulling the trigger.
The most aggressive foreign pipe offer remains API X42 ERW line from Korea, which increased by about $1.00 cwt. ($22 /mt or $20 /nt) over the past two weeks and now range from approximately $36.00 cwt. to $37.00 cwt. ($794 /mt to $816 /mt or $720 /nt to $740 /nt) duty-paid, FOB loaded truck in West Coast ports. However, while buyers have expressed that this is an attractive price, there have not been many real indications of booking.
Regardless, galvanized pipe from India remains the most attractive foreign pipe product. However, Indian electric resistance welded (ERW) ASTM A53 galvanized plain end (GPE) standard pipe offers have remained neutral over the past two weeks, and continue to range from around $42.00 cwt. to $43.00 cwt. ($926 /mt to $948 mt or $840 /nt to $860 /nt) duty-paid, FOB loaded truck in US Gulf ports, which is too high for serious buyers in this volatile market. Meanwhile, Indian ERW standard black plain end (BPE) pipe offers from India are currently being offered at around $36.50 cwt. to $37.50 ($805 /mt to $827 /mt or $730 /nt to $750 /nt) duty-paid, FOB loaded truck in US Gulf ports.