Import offer prices to the
US for import API X-42 electric resistance welded (ERW) line pipe from
Vietnam may have held neutral in the past week, but Korean mills have raised prices by approximately $1.50 cwt. ($33/mt or $30/nt). The most commonly reported range from
Vietnam is still between $40.50-$41.50 cwt. ($893-$915/mt or $810-$830/nt), whereas Korean offer prices are up to $42.00-$43.00 cwt. ($926-$948/mt or $840-$860/nt), both DDP loaded truck in
US Gulf ports. Trader sources believe this increase will be accepted, especially in that recent
US Steel Monitoring Import and Analysis data show that Korean mills continue be the dominant offshore importer of line pipe to the
US. For the month of August, they exported more than three times the tonnages to the
US than the second largest offshore importer of line pipe to the
US, which was Japan.
Meanwhile,
US domestic spot prices for API X-42 ERW line pipe have held steady in the past seven days. As in previous weeks, the most commonly reported range is still between $54.00-$55.00 cwt. ($1,191-$1,212/mt or $1,080-$1,100/nt) ex-Midwest mill; although buyers are still able to negotiate deals below this range on larger orders. Lead times continue to trend at about four weeks, while order activity and inquires have remained stable.