Order activity, inquiries and bookings for US domestic line pipe are trending quiet this week, leaving week-on-week pricing levels on par with where they were seven days ago. US domestic spot market prices are sideways, still at approximately $51.00-$52.00 cwt. ($1,124-$1,146/mt or $1,020-$1,040/nt) ex-Midwest mill, although as in previous weeks deals slightly below that range may be available on larger orders. Some speculate that falling oil prices may lead to corrections within the US spot market, although the official correction has yet to be seen.
In terms of futures offer prices, Taiwanese mills continue to offer in the approximate range of $38.50-$39.50 cwt. ($849-$871/mt or $770-$790/nt); Vietnamese prices continue to trend about $0.50 cwt. ($11/mt or $10/nt) above the Taiwanese range, both DDP loaded truck in US Gulf Coast ports. Indian offer prices have also held sideways, at $41.50-$42.50 cwt. ($915-$937/mt or $830-$850/nt) DDP loaded truck US Gulf coast ports. Lastly, third-tier Korean producers are still quoting in the approximate range of $41.00-$42.00 cwt. ($904-$926/mt or $820-$840/nt), while first-tier Korean producers’ asking prices are still trending as much as $2.00-$3.00 cwt. higher.