US line pipe market has all eyes on Section 232

Friday, 23 June 2017 19:26:16 (GMT+3)   |   San Diego
       

The still-pending results of the Section 232 investigation has many buyers and sellers of US import API X-52 ERW line pipe sitting on the sidelines.
 
Offshore mills continue to offer, sources note, but at this point “no one knows what’s going to happen to pricing and everyone seems to be holding off until the 232 announcement comes out.”
 
Although it was initially believed the finding would be announced last week, the US DOC has yet to release their analysis.  It’s largely speculated that tariffs on imported steel “could be significant, but at this point, it’s anyone’s guess as to what the tariffs will look like.”
 
In terms of current offers, the most commonly heard price for for US import API-X52 ERW line pipe from Mexico in the US domestic market is still being heard at $49.50-$51.50 cwt. ($1091-$1135/mt or $990-$1030/nt), FOB Houston, while pricing for Korean API X-52 line pipe in the US domestic market is holding at $42.50-$44.00 cwt. ($937-$970/mt or $850-$880/nt), DDP loaded truck in US Gulf coast ports.
 
In the US domestic market, distribution center sources are still indicating that US pipe mills are quoting API X-52 line pipe at $54-$56 cwt. ($1191-$1235/mt or $1080-$1120/nt), ex-mill.

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