Sources close to SteelOrbis have confirmed that for the most part, US domestic pricing for API-X42 ERW line pipe remains steady at $45.00-$46.00 cwt. ($992-$1,014/mt or $900-$920/nt), ex-Midwest mill, but this is mostly due to nearly quiet order activity. Futures prices from Taiwanese producers are also still neutral, at approximately $25.50-$26.50 cwt. ($562-$584/mt or $510-$530/nt), DDP loaded truck in US Gulf coast ports, and as with last week, futures offers from Korean producers are still trending approximately $2.00 cwt. ($44/mt or $40/nt) less. Offshore mills are ready and willing to negotiate, according to trader sources, who note that mill reps are hungry for orders.
Soft prices and lagging order activity continue to be a casualty of cheap oil prices and falling rig counts, and while many within the line pipe market believe that recovery is on the horizon, it is not expected to happen before the end of the year.