Neutral conditions have sustained within the US domestic API X-42 electric resistance welded (ERW) line pipe market with minimal activity on the heels of Christmas, followed by the New Year holidays. Spot price ranges have remained unchanged since last week and the most commonly reported range is still $54.00-$55.00 cwt. ($1,191-$1,212/mt or $1,080-$1,100/nt) ex-Midwest mill. Lead times continue to be hovering at about four weeks and with the line pipe market oversaturated with material, spot prices remained flexible for those interested in placing large-tonnage orders.
Meanwhile, the end-of-year holiday celebration has left import activity trending relatively light. Offer prices to the US for API-X42 ERW line pipe from Taiwan, Korea and Turkey are also unchanged in the past week and continue to be seen in the range of $42.50-$43.50 cwt. ($937-$959/mt or $850-$870/nt) DDP loaded truck in US Gulf ports. Traders' positions for on-the-ground line pipe remain about $3.00-$5.00 cwt. ($66-$110/mt or $60-$100/nt) below current futures offer prices, although buying activity is expected to remain scant until people return to work later this week.