With US drilling activity largely increasing on a week-on-week basis--at least for oil--demand for API X-42 electric resistance welded (ERW) line pipe remains steady and US domestic spot prices are still between $62.50-$63.50 cwt. ($1,378-$1,400/mt or $1,250-$1,270/nt) ex-mill. Supply and demand for line pipe remain largely in check, according to SteelOrbis sources, so mills aren't too willing to offer many discounts based on larger orders, or to combat less expensive imports.
Although domestic line pipe demand is strong, import activity is still quiet. Import line pipe activity firmed substantially in late January and early February, and many high volume orders were placed overseas. As a result, many US buyers don't need to place an offshore order at the moment, although one trader in the South noted that since oil drilling activity continues to increase, US buyers are likely to return to the market sooner rather than later. For the time being, Korean and Vietnamese offer prices are stable from last week and are still between $47.50-$48.50 cwt. ($1,047-$1,069/mt or $950-$970/nt) DDP loaded truck in US Gulf ports.