It’s been more than a week since Hurricane Harvey made landfall in Houston, but sources close to SteelOrbis say they are still assessing the damage to their inventory.
Earlier this week, one trader source said that while the ports were OK, that the pipe yards had been under water. “I think the impact of this will be negative in the short run with a gradual increase in the long run,” he said.
Another source said that while pricing for domestic and import API X-52 line pipe is steady for now, pipe yards are just now starting to reopen so if there will be an effect, it has not been perceived yet.
In terms of pricing, US domestic API-X52 line pipe is still trending at $54-$55 cwt. ($1,191-$1,213/mt or $1,080-$1,100/nt), FOB Houston, while prices for US import API-X52 ERW line pipe from Mexico is still being heard at $46.50-$47.50 cwt. ($1,025-$1,047/mt or $930-$950/nt), FOB Houston.
Lastly, prices for US import API-X52 ERW line pipe from Korea continue to hold at approximately $47.50 cwt. ($1,047/mt or $950/nt), DDP loaded truck in US Gulf coast ports.