Average sales prices for import API X-42 electric resistance welded (ERW) line pipe from Korean, Taiwanese, Vietnamese and Turkish mills have leveled off in the past seven days, but interest in booking futures remains weak. CFR offer prices out of all four regions came down by $10/mt in late March, but this did not spur a flurry of orders. The average price range from all four countries is still between $43.50-$44.50 cwt. ($959-981/mt or $870-$890/nt) DDP loaded truck in US Gulf ports, but few, if any, are expressing interest in taking larger inventory positions due to the oversaturation of line pipe within the US domestic market. Trader sources report that the above stated range can be quite flexible depending on the originating mill and the size of the order.
In the US domestic market, order activity and inquiries are on par with where they were a week ago. The most commonly reported US spot price range for API X-42 ERW line pipe is still approximately $54.00-$55.00 cwt. ($1,191-$1,212/mt or $1,080-$1,100/nt) ex-mill, and lead times continue to flutter at about four weeks. Demand and capacity remain unbalanced, allowing for price flexibility of as much as $3.00-$5.00 cwt. ($66-$110/mt or $60-$100/nt) below the average spot transaction range.