The most commonly reported prices for both
US domestic and import line pipe may be unchanged in the past seven days but buyers report an uptick in “what would it take to get you to book some tons” cold calls from their salespeople. “Sure, the market is steady but everyone is so hungry for orders at this point anyone who is looking to buy is going to have the upper hand in any sort of negotiation,” according one Texas-based source, noting that it really doesn’t matter what the price is at this point, because few, if any are buying. Bearish market conditions, falling oil and ever-dropping rig counts continue to be a widespread concern within the energy pipe segments, and slowed, if not altogether stalled activity may become the new normal until oil prices begin to stabilize.
In terms of current average price ranges, the
US domestic spot market is holding at $51.00-$52.00 cwt. ($1,124-$1,146/mt or $1,020-$1,040/nt) ex-Midwest mill, while Taiwanese futures offers are steady at $38.50-$39.50 cwt. ($849-$871/mt or $770-$790/nt) and as with last week, Vietnamese offer prices continue to trend roughly $0.50 cwt. ($11/mt or $10/nt) above that range, both DDP loaded truck in
US Gulf Coast ports.