Spot prices within the
US domestic API X-42 line pipe market are still trending at soft-sideways;
US domestic spot prices may have held mostly neutral since our last report a week ago, at approximately $45.00-$46.00 cwt. ($992-$1,014/mt or $900-$920/nt), ex-Midwest mill, but domestic sources continue to say “there is no such thing as an average price,” as many sellers are willing to negotiate deals in hopes of spurring order activity. The same holds true for futures offers. Prices from
Taiwan and
Vietnam, previously seen 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, along with prices from Korean producers, previously seen in the approximate range of $32.50-$33.50 cwt. ($717-$739/mt or $650-$670/nt), DDP loaded truck in
US Gulf Coast ports, are equally flexible.
Oil prices dropped to a near 6 ½ year low earlier this week and it’s believed that the
US domestic and import line pipe markets will remain sluggish until that market begins to rebound. Sources close to SteelOrbis say they lack optimism that activity within the domestic line pipe market will pick up before the start of 2016, especially since
US domestic steel market activity tends to taper during the last two months of the year.