Import API X-42 electric resistance welded (ERW) line pipe sales prices in the US from Korea, Taiwan and Vietnam may have held steady in the past seven days, but the current offer price range of $40.50-$41.50 cwt. ($893-$915/mt or $810-$830/nt) DDP loaded truck in US Gulf ports is not expected to last. Trader sources have said last week’s filing of AD/CVD petitions against OCTG imports by US pipe mills has led to expectations that a trade petition against import line pipe could be imminent if futures prices don’t firm. In terms of order activity, traders are only placing orders for what is immediately necessary and interest in booking speculative tons is weak.
Meanwhile, US domestic API X-42 ERW line pipe prices are holding at the status quo. The most commonly reported spot price range is still between $54.00-$55.00 cwt. ($1,191-$1,212/mt or $1,080-$1,100/nt) ex-Midwest mill, but deals as much as $3.00-$5.00 cwt. ($66-$110/mt or $60-$100/nt) below that range can be negotiated on larger orders. Lead times have continued to hold at about four weeks and industry insiders say that order activity is steady, but lacking fervor.