Service center sources, distributors and traders all agree that absolutely nothing has changed in the
US domestic or import API X-42 electric resistance welded (ERW) line pipe market since our last report a week ago. The most commonly reported domestic spot price transaction range has remained lateral, still at $51.00-$52.00 cwt. ($1,124-$1,146/mt or $1,020-$1,040/nt) ex-Midwest mill, as have futures prices out of
Vietnam and
Taiwan, which are still in the approximate range of $38.50-$39.50 cwt. ($849-$871/mt or $770-$790/nt) DDP loaded truck
US Gulf coast ports. Those who are involved in the buying and selling of energy pipe are keeping close watch on international politics, namely, how successful the Congressional Steel Caucus is on pressuring the Obama Administration to stop offshore mills from flooding the domestic market with cheap steel. Many domestic players still feel that Southeast Asian mills are offering futures at prices that place them at an unfair advantage, and they’re continuing to watch-and-wait to see how the OCTG trade case will pan out.