The US domestic and import API X-42 ERW line pipe markets continue to trend tepid, sources note, adding that global oil overproduction is still taking a toll on the US market.
Futures prices for API X-42 ERW line pipe from Korean have held steady in the past week; offers continue to be heard in the approximate range of $26.50-$27.50 cwt. ($584-$606/mt or $530-$550/nt), DDP loaded truck in US Gulf coast ports. Looking onshore, domestic pricing for this same product continues to trend $40.00-$42.00 cwt. ($882-$926/mt or $800-$840/nt), ex-Midwest mill, although multiple SteelOrbis sources report being able to “do much better at the distribution center level because people are already starting to thin their stocks in advance of the year-end-inventory-tax.”