Spot prices for US domestic API X-42 electric resistance welded (ERW) line pipe have held steady in the past week and are still in the approximate range of $54.00-$55.00 cwt. ($1,191-$1,212/mt or $1,080-$1,100/nt) ex-Midwest mill. Order activity and inquires have continued to trend more quietly than they had in the beginning of the month, according to industry insiders, most of which is largely tied to Texan buyers’ desire to keep their year-end inventory tax to a minimum. Lead times are still at about four weeks, and buyers are only placing orders on an as-needed basis.
Meanwhile, the most commonly reported transaction range for US import API X-42 ERW line pipe from Korea and Vietnam are also unchanged in the past week, at $42.00-$43.00 cwt. ($926-$948/mt or $840-$860/nt), and $40.50-$41.50 cwt. ($893-$915/mt or $810-$830/nt) respectively, both DDP loaded truck in US Gulf coast ports. Deals below these ranges continue to be available to those interested in booking larger tonnages, but as in previous weeks, interest in booking speculative tons remains weak.