Players within the US domestic energy pipe markets continue to report less-than-ideal activity levels and pricing that’s all over the map. And while spot prices for US domestic API X-42 ERW line pipe continue to hold at approximately $45.00-$46.00 cwt. ($992-$1,014/mt or $900-$920/nt), ex-Midwest mill, there are still quite a few distributors who are out to liquidate high-priced inventory at “fire-sale” levels just to get it turned over. “There are quite a few people who are just looking to dump inventory right because they want to get the bloodbath over with,” according to one Midwest-based source.
Futures prices are also on par with where they were a week ago, with Vietnamese and Taiwanese prices still holding at approximately $35.00-$36.00 cwt. ($772-$794/mt or $700-$720/nt), DDP loaded truck in US Gulf coast ports. And as with last week, sources say that “higher-priced, on-the-ground offshore API X-42 can also be bought at a similar price-point.”