Sources close to SteelOrbis have confirmed that pricing for US import API X-42 ERW line pipe from Taiwanese producers have fallen by $2.00 cwt. ($44/mt or $40/nt) since our last report a week ago, bringing current Taiwanese and Korean futures offers to the approximate range of $23.50-$24.50 cwt. ($518-$540/mt or $470-$490/nt), but this has done little to entice US buyers to place orders with offshore mills.
"Rig counts are falling and oil prices are all over the map, and no one is doing much of anything," said one Texas-based source. In terms of US domestic pricing, that is also mostly stable week on week, with the most commonly reported spot price transaction range holding at $45.00-$46.00 cwt. ($992-$1,014/mt or $900-$920/nt), ex-Midwest mill.