According to Nov. 15 data from the US Department of Commerce, Enforcement and Compliance, US import line pipe tonnages from global sources for the month of September were recorded at 59,582 mt (license data), which reflects a 52 percent drop from Sept. 2015, when US import line pipe tonnages were recorded at 125,264 mt (license data).
For the month of October, US import line pipe tonnages from global sources were recorded at 77,945 mt (census data). This reflects a 31 percent drop from levels recorded in Oct. 2015, when US import line pipe tonnages were calculated at 113,274 mt (census data).
In terms of current market activity, sources close to SteelOrbis are reporting that Korean API-X42 ERW line pipe producers are currently trying to raise prices; this move is directly attributed to upticks in global raw materials costs.
Last week, SteelOrbis reported that import API-X42 ERW line pipe pricing in the US domestic market from Korea was being heard in the range of $27.50-$28.50 cwt. ($606-$628/mt or $550-$570/nt), DDP loaded truck in US Gulf coast ports; at current, the most commonly heard offer price for import API-X42 ERW line pipe pricing in the US domestic market from Korea is trending between $30-$31 cwt. ($661-$683/mt or $600-$620/nt), DDP loaded truck in US Gulf coast ports.
And while one SteelOrbis source said he has heard of offers $0.50 cwt. ($11/mt or $10/nt) below this range, another SteelOrbis source, however, said he is aware of offers that are being quoted $1.00 cwt. ($22/mt or $20/nt) above this range. “Prices are so fluid these days things seem to be changing throughout the day,” another source added.
It is further believed that prices could see another upward revision in the near future.