With the US presidential election just days away, the US domestic and import line pipe markets are awaiting results in both the presidential and congressional races, as the executive and legislative branches will determine the future of drilling and fracking in the US. And while any tangible impacts on US pipe projects won’t happen until long after the presidential inauguration in January, “market sentiment” could have an impact on prices in the near-term.
As such, current ex-Midwest mill spot market pricing for API X-42 ERW line pipe continues to be heard at $40-$41 cwt. ($882-$904/mt or $800-$820/nt), ex-Midwest mill, with discounts still available to move existing stock.
Current import API-X42 ERW line pipe pricing in the US domestic market from Korea has also followed a neutral trend this week, at $27.50-$28.50 cwt. ($606-$628/mt or $550-$570/nt), DDP loaded truck in US Gulf coast ports.