The
US import line pipe market has been relatively quiet in the past week, with many domestic buyers and sellers gearing up for the Thanksgiving holiday. Prices from Vietnamese, Filipino and Taiwanese mills for API X-42 electric resistance weld (ERW) line pipe are unchanged in the past seven days, still at $38.50-$39.50 cwt. ($849-$871/mt or $770-$790/nt), DDP loaded truck in
US Gulf coast ports. Order activity has been light, according to trader sources, as many are focused on the upcoming four-day weekend. Those who have been ordering, however, have indicated that offshore mills are more than willing to negotiate deals for larger tonnages.
Meanwhile, oversupply continues to be the greatest hindrance within the
US domestic line pipe market. Spot prices for
US domestic API X-42 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 week. Short, three-week lead times continue to lend themselves to deal-making on larger orders, although most buyers are not placing orders beyond what they need in order to fill inventory gaps.