Import offer pricess for import API X-42 electric resistance welded (ERW) line pipe to the US are stable unmoved in the past seven days, with the most commonly reported Korean, Taiwanese and Vietnamese sales prices still trending in the approximate range of $40.50-$41.50 cwt. ($893-$915/mt or $810-$830/nt) DDP loaded truck in US Gulf ports. This, however, could soon change. The belief that most (if not all) of the offshore pipe mills that were named in the recently filed AD/CVD petitions against oil country tubular goods (OCTG) imports will shift to offering line pipe is still running strong. This will not only cause downward pressure on import line pipe prices due to increased competition, but it will also likely alarm US line pipe producers, who would have no qualms about filing a trade petition, according to SteelOrbis sources.
In terms of the US domestic market, lead times have held at about four weeks and prices continue to be flexible. The most commonly reported transaction range remains in the approximate range of $54.00-$55.00 cwt. ($1,191-$1,212/mt or $1,080-$1,100/nt) ex-Midwest mill, unchanged in the past week, although deals as much as $5.00 cwt. ($110/mt or $100/nt) below the average spot price range can be negotiated on larger orders. Buyers, though, aren’t exactly chomping at the bit. As in previous weeks, orders are being placed on an as-needed basis while stock-buys are being avoided.