Pricing in the US domestic API X-52 line pipe market has held firm in the past week, at $67.50-$70.00 cwt. ($1488-$1543/mt or $1350-$1400/nt), ex-mill, but market players say concerns about possible year-end pipe shortages could drive prices up even higher in Q4.
“Chaos. We expect shortages and chaos,” a source said.
“The Korea quotas are going to cause some supply hiccups,” another source added. “Since the quota is retroactive to January, I imagine most of it is already used up. The administration is sewing a great deal of discord with these anachronistic trade policies. I would look for news about Korean mills going under in the near future.”
Current offshore offers are quiet, another source added, noting that offshore mills are currently evaluating the still-fluid US trade policy situation.