Market players within the US domestic and import line pipe markets have long said that it doesn’t matter what the price of domestic or import API X-42 line pipe is being offered at, as weak demand and cheap oil prices continues to hinder order activity. This, however, has not stopped offshore producers from revising prices downward in hopes of attracting US buyers. Trader sources have reported seeing futures offers from Taiwanese producers as low as $25.50-$26.50 cwt. ($562-$584/mt or $510-$530/nt), DDP loaded truck in US Gulf coast ports, although interest in booking position tons is limited at best.
In terms of US domestic pricing, that is mostly unchanged since our last report a week ago, at $45.00-$46.00 cwt. ($992-$1,014/mt or $900-$920/nt), but as with last week, deals well below this range are available to buyers who would be interested in placing larger-sized orders. Inventories for both domestic and import are still trending high, sources say, which has few buyers looking to book anything significant.