Previously reported outlier deals for import API X-42 electric resistance welded (ERW) line pipe have become the new normal. Import offer prices from
Vietnam have dipped by about $1.25 cwt. ($28/mt or $25/nt) in the past week whereas prices from
Korea and
Taiwan have come down by about $1.75 cwt. ($39/mt or $35/mt). Now, import sales prices in the
US from all three countries are in the range of $40.50-$41.50 cwt. ($893-$915/mt or $810-$830/nt) DDP loaded truck in
US Gulf ports. Even so, deals slightly below this range are available for those looking to book larger tonnages. In addition, trader sources have said that with prices dropping to a new low this week, a possible trade case could be just around the corner, especially as
US pipe mills just filed AD/CVD petitions against OCTG imports Tuesday.
Meanwhile, average spot prices for
US domestic API X-42 ERW line pipe are still generally in the range of $54.00-$55.00 cwt. ($1,191-$1,212/mt or $1,080-$1,100/nt) ex-Midwest mill, but that range is in no way firm. Industry insiders continue to report that deals as much as $3.00-$5.00 cwt. ($66-$110/mt or $60-$100/nt) below the above range are available for buyers looking to book significant tonnages. Distributor sources have said that inquiries have increased--a positive sign--but order activity has held steady and lead times continue to hold at about four weeks.