The most commonly heard pricing for API-X42 ERW line pipe pricing in the US domestic market from Korea has jumped up; the increase is attributed to recent increases in global raw materials costs.
Current pricing is now being heard at $34-$35 cwt. ($750-$772/mt or $680-$700/nt), DDP loaded truck in US Gulf coast ports. This pricing reflects a $4.00 cwt. ($88/mt or $80/nt) increase from prior offers.
In terms of US domestic prices, pipe mills are currently quoting US API X-42 ERW line pipe customers at $44-$46 cwt. ($970-$1014/mt or $880-$920/nt), ex-Midwest mill, although some SteelOrbis sources have reported hearing prices slightly above this range.
“There’s a lot of talk about what could happen in the upcoming weeks, especially if oil prices creep up to that $60 per barrel range,” one source said. “A lot of my customers say they’re already looking into reactivating drilling projects should that happen, which, if it does, will definitely start to increase demand and help support higher prices.”