US line pipe market levels after upticks in import pricing

In the past two weeks, most offshore producers of US import API X-42 electric resistance weld (ERW) line pipe shot upward, with many believing these mills were making a “just-in-case preemptive strike” in the event a line pipe trade case is filed.  But since that time, things have started to level out.  Futures offers from Indian mills are still trending in the approximate range of $41.50-$42.50 cwt. ($915-$937/mt or $830-$850/nt) DDP loaded truck US Gulf coast ports, while futures offers from Brazilian mills continue to come in about $1.00 cwt ($22/mt or $20/nt) higher. Prices from Korean producers have trended lateral at $42.00-$42.50 cwt.  ($926-$937/mt or $840-$850/nt), while offers from Taiwanese mills are still in the approximate range of 41.50-$42.50 cwt. ($915-$937/mt or $830-$850/nt), all DDP loaded truck in US Gulf coast ports.

The US domestic market has also held a steady course, as the most commonly reported spot price transaction range is still in the approximate range of $51.00-$52.00 cwt. ($1,124-$1,146/mt or $1,020-$1,040/nt) ex-Midwest mill.  Although the “trade case rumors” are still being rumbled, the whispers are not nearly as loud as they were six weeks ago, and some have started to say people “can only cry wolf so many times before we stop believing it.”