Both the US domestic and import line pipe market have trended at neutral in the past week, as many have been enjoying shortened work weeks due to the Christmas and New Year's holidays. Spot prices for US domestic API X-42 electric resistance weld (ERW) line pipe are still in the approximate range of $54.00-$55.00 cwt. ($1,191-$1,212/mt or $1,080-$1,100/nt) ex-Midwest mill, reflecting no change in the past seven days. Industry insiders say that production continues to outpace demand and because of this, mills are amply willing to make deals with buyers who are interested in booking significant tons.
Meanwhile, prices for import API X-42 ERW line pipe from Vietnam and Taiwan are also unchanged in the past seven days and continue to be offered in the approximate range of $38.50-$39.50 cwt. ($849-$871/mt or $770-$790/nt), DDP loaded truck in US Gulf coast ports. Trader sources have said that offshore mills are hungry for orders and are open to negotiating on price. Korean mills are also still offering at approximately $2.00 cwt. ($44/mt or $40/nt) higher, but they are nevertheless open to negotiating deals.