The most commonly heard spot price transaction range for US domestic API X-42 line pipe is unchanged since our last report a week ago, at $45-$47 cwt. ($992-$1036/mt or $900-$940/nt), ex-Midwest mill, although sources close to SteelOrbis still feel that another price increase announcement could be on the horizon.
On one hand, sources note, domestic bookings continue to be strong. On the other hand, US scrap prices softened during the February buy-cycle, and the previously seen uptrend for US HRC prices has finally tapered; current US HRC prices are trending sideways.
In terms of imports, trader sources note that Korean API X-42 line pipe in the US domestic market is being heard at $44-$45 cwt. ($970-$992/mt or $880-$900/nt), DDP loaded truck in US Gulf coast ports. According to the most recent import license data from the US Department of Commerce, for the month of January, the US imported 119,981 mt of line pipe from global sources. This is nearly on par with January 2015, when the US imported 117,319 mt of line pipe.