Prices, order activity and inquiries within the US import line pipe market have remained lateral since our last report a week ago; SteelOrbis sources have confirmed that futures pricing from Korean API X-42 ERW line pipe producers continues to hold at $26.50-$27.50 cwt. ($584-$606/mt or $530-$550/nt), DDP loaded truck in US Gulf coast ports.
“Yes, things have picked up a little bit in the past few weeks but we’re by no means busy,” one source said. “The global oil supply glut is still a big thorn in our side, and yes, while it’s all fine and good that OPEC is talking about a production freeze but I think we’ll all believe that when we see it.”