Futures offers for API X-42 electric resistance weld (ERW) line pipe have fallen completely silent since our last report a week ago, as mills in both those countries have temporarily pulled out of the market. “At this point in time the Koreans are re-evaluating their prices, and are likely to come back in with higher-priced offers, much like they did after the OCTG case was filed,” according to one Texas-based trader source. “
Taiwan is also out of the game for the moment but they’re expected to follow
Korea’s lead.”
US import prices from Indian and Brazilian mills, however have remained steady. Futures offers from Indian producers 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, while Brazilian offers are still trending about $1.00 cwt ($22/mt or $20/nt) higher.
US domestic spot prices for API X-42 ERW line pipe are also unchanged in the past week, still at approximately $51.00-$52.00 cwt. ($1,124-$1,146/mt or $1,020-$1,040/nt) ex-Midwest mill.