US domestic API X-42 electric resistance welded (ERW) line pipe spot prices may have trended sideways since our last report a week ago, but buyers and sellers continue to wonder if declining prices for scrap and US domestic hot rolled coil (HRC) will spill over into the line pipe market. For now, though, pricing continues to be reported in the range of $56.00-$57.00 cwt. ($1,235-$1,257/mt or $1,120-$1,140/nt) ex-Midwest mill, although deals $2.00-$3.00 cwt. ($44-$66/mt or $40-$60/nt) below current mill prices are available for buyers who place orders for larger tonnages. Service center sources have indicated order activity and inquiries continue to remain stable, although now that spot prices for HRC have fallen below $30.00 cwt. ($661/mt or $600/nt), buyers are being especially mindful, and questioning whether downticks in line pipe pricing will soon follow.
Shifting focus offshore, import offers for API X-42 ERW line pipe from Korea and Taiwan have remained neutral since our last report a week ago. Import pricing continues to be between $42.50-$43.50 cwt. ($937-$959/mt or $850-$870/nt) and $43.00-$44.00 cwt. ($948-$970/mt or $860-$880/nt), respectively, DDP loaded truck in US Gulf ports. At the same time, though, Korean mills continue to lead their worldwide counterparts when it comes to import tonnages to the US. US Steel Import Monitoring and Analysis (SIMA) data shows that Korea was the largest offshore supplier for line pipe in the US in both August (35,848 mt, preliminary census data) and September (41,486 mt, license data).