Both the
US domestic and import line pipe markets have not wavered in the past seven days, as everyone is waiting to learn what the preliminary trade case ruling results will be. The short, pre-Thanksgiving work week has also had some impact on market activity.
Futures offers have remained lateral, with Taiwanese futures offers still holding at $38.50-$39.50 cwt. ($849-$871/mt or $770-$790/nt) DDP loaded truck in
US Gulf coast ports with Vietnamese prices continue to trend about $0.50 cwt. ($11/mt or $10/nt) higher; third-tier Korean mills are still quoting in the approximate range of $41.00-$42.00 cwt. ($904-$926/mt or $820-$840/nt), while first-tier Korean producers’ asking prices are still about $3.00 cwt. above that range, both DDP loaded truck in
US Gulf coast ports. In terms of Indian offers, those have also trended sideways and continue to hold in the approximate range of $41.50-$42.50 cwt. ($915-$937/mt or $830-$850/nt), DDP loaded truck
US Gulf coast ports. And while Brazilian offer prices are still trending about $1.00 cwt. ($22/mt or $20/nt) higher, sources close to SteelOrbis say Brazilian producers are ready and willing to negotiate based on tons.
Pricing within the
US domestic spot market have also trended sideways since our last report a week ago, still at approximately $51.00-$52.00 cwt. ($1,124-$1,146/mt or $1,020-$1,040/nt) ex-Midwest, although deals are still available to those interested in booking larger orders.