US import API X-42 ERW line pipe prices have increased sharply since our last report a week ago, with multiple SteelOrbis sources having confirmed that futures offers from Korean producers have jumped by approximately $4.00 cwt. ($88/mt or $80/nt), bringing current offer prices to $29.50-$31.50 cwt. ($650-$694/mt or $590-$630/nt) DDP loaded truck in US Gulf coast ports. “Some mills are trying to ask for $20/nt higher but I don’t see anyone booking anything at that price,” one source said.
US domestic API X-42 ERW line pipe spot market pricing has increased by approximately $1.00 cwt. ($22/mt or $20/nt) on the top end since our last report a week ago, bringing the current average range to $45.00-$47.00 cwt. ($992-$1036/mt or $900-$940/nt), ex-Midwest mill, although “mills are trying to push for up to $60/nt higher on some of the larger diameter sizes,” another source said. Upticks in domestic pricing are directly attributed to the recent run up in US HRC pricing.
Other sources note that while ex-mill pricing is up, there is “still plenty of pipe that’s already on the ground at the distribution center level.”