Prices, order activity and inquiries within the
US domestic and import API X-42 electric resistance welded (ERW) line pipe markets have held their sideways trend since our last report a week ago, as futures prices from
Korea remain at approximately $39.50-$40.50 cwt. ($871$893/mt- or $790-$810/nt) DDP loaded truck
US Gulf coast ports, while offers from Taiwanese and Vietnamese mills are still reported at $38.50-$39.50 cwt. ($849-$871/mt or $770-$790/nt) DDP loaded truck
US Gulf coast ports. Spot prices within the
US market are also unchanged, still coming in at approximately $51.00-$52.00 cwt. ($1,124-$1,146/mt or $1,020-$1,040/nt) ex-Midwest mill, although sources close to SteelOrbis say that deals below this range are certainly available to anyone who is looking to book larger tonnages.
The
US pipe and tube market seems to be stuck in neutral for the time being, as everyone is watching, waiting and anticipating Friday’s final determinations announcement for the antidumping (AD) and countervailing duty (CVD) case against certain offshore producers of oil country
tubular goods (OCTG). Many have said that
US political pressure for high margins is unlike anything they’ve seen in recent years, and if petitioners are in fact successful in their bid to knock Korean mills out of the market, some feel this could open the proverbial floodgates to additional filings in the near future.