Multiple sources close to SteelOrbis have said the US import API X-52 line pipe market will continue to trend uncertain until the results of the Section 232 announcement are released.
Earlier this week, the Concessional Steel Caucus sent a letter to President Donald Trump expressing support for the Department of Commerce’s Section 232 investigation of the impact of steel imports on national security. A copy of the letter was also sent to Secretary of Commerce Wilbur Ross.
Specifically, the letter states that to be effective, a Section 232 remedy must apply broadly to the full spectrum of steel products.
“Everything is in limbo until the market has more clarity,” one source said.
In terms of current offers, the most recently heard price 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; pricing for Korean API X-52 line pipe in the US domestic market is also neutral, week-on-week, at $42.50-$44.00 cwt. ($937-$970/mt or $850-$880/nt), DDP loaded truck in US Gulf coast ports.