Offer prices to the
US for import API X-42 electric resistance welded (ERW) line pipe from
Taiwan,
Vietnam and
Korea have held steady in the past seven days. The most commonly reported range is still between $40.50-$41.50 cwt. ($893-$915/mt or $810-$830/nt) DDP loaded truck in
US Gulf ports. Trader sources, however, indicate a widespread reluctance to take on position tons due to the year-end arrival time and a desire to avoid the year-end inventory tax. Meanwhile, plenty of import line pipe purchased months earlier is hitting
US ports, indicating that
Korea continues to be the
US’ largest source of offshore line pipe. Recent
US Steel Monitoring Import and Analysis (SIMA) data show that for both July and August (as of August 27), the
US’ largest source of import line pipe was
Korea at 81,248 mt (preliminary census data) and 70,159 mt (license data), respectively. The second largest offshore source for July was Italy, at 16,404 mt (preliminary census data), whereas the second largest offshore importer for August was Japan, at 14,910 mt (license data).
Meanwhile, spot prices for
US domestic API X-42 ERW line pipe are also unchanged in the past week. The most commonly reported range has held at $54.00-$55.00 cwt. ($1,191-$1,212/mt or $1,080-$1,100/nt) ex-Midwest mill, but buyers still report the ability to negotiate deals on larger orders. Order activity and inquires have held steady, but four-week lead times continue to indicate a relative weakness in the market.