Trader sources report that Korean mills are still trying to sort out how to best handle the recent trade case filing, although for now, they are still said to be honoring delivery for all previously booked orders. “They’re going to ship what needs to be shipped and when the next round of offers comes out, they’re going to be higher,” said one trader source. “Many people think they will sign on as the importer of record, as they have in previous cases, and thinks
Korea will still ship business-as-usual until this gets sorted out.”
In terms of prices, everything has held steady in the past seven days.
US domestic spot prices for API X-42 ERW line pipe have held at $51.00-$52.00 cwt. ($1,124-$1,146/mt or $1,020-$1,040/nt) ex-Midwest mill, while futures offers from Indian mills are still trending in the range of $41.50-$42.50 cwt. ($915-$937/mt or $830-$850/nt) DDP loaded truck
US Gulf coast ports. Prices from
Brazil are still trending about $1.00 cwt ($22/mt or $20/nt) higher. The most recent offers from Korean producers were in the approximate range of $42.00-$42.50 cwt. ($926-$937/mt or $840-$850/nt) DDP loaded truck
US Gulf coast ports, although that is expected to be revised in the not-too-distant future.