Both the US domestic and import API X-42 ERW line pipe markets have continued to tread water since our last report a week ago, as orders, inquiries and pricing remain on par with previously reported levels.
US domestic spot market prices are steady, at $45.00-$46.00 cwt. ($992-$1,014/mt or $900-$920/nt), ex-Midwest mill. Futures prices out of Vietnam and Taiwan continue to trend in the approximate range of $35.00 -$36.00 cwt. ($772-$794/mt or $700-$720/nt), DDP loaded truck in US Gulf coast ports and Korean offers are still trending slightly more aggressive at $1.00 cwt. ($22/mt or $20/nt) less. All pricing continues to be flexible, according to sources close to SteelOrbis. Trader sources say they are still trying to work through supply that is on the ground, which, if you look at June 24 data from the Steel Import Monitoring Analysis System (SIMA), makes sense. Global import tonnages to the US in April and May came in at 286,347 mt (census data) and 216,740 mt (preliminary census data.) June 24 license data has June import tonnages at 170,000 mt, which is still fairly substantial.