It’s been a quiet and uninteresting week within the US domestic and import energy pipe segments, and API X-42 electric resistance welded (ERW) line pipe has not been the exception to the rule.
“It’s been dead,” according to SteelOrbis sources, noting uncertainty with oil prices and the still pending trade case have many buyers holding in a watch-and-wait holding pattern. And all things considered, it’s not surprising that pricing has remained steady across the board.
Futures offers from Taiwanese mills continue to trend in the approximate range of $38.50-$39.50 cwt. ($849-$871/mt or $770-$790/nt) DDP loaded truck in US Gulf coast ports with Vietnamese prices are still being seen roughly $0.50 cwt. ($11/mt or $10/nt) above the Taiwanese range; third-tier Korean mills continue to quote in the approximate range of $41.00-$42.00 cwt. ($904-$926/mt or $820-$840/nt), while first-tier Korean producers’ asking prices are still trending as much as $3.00 cwt. higher, all DDP loaded truck in US Gulf coast ports. Indian offer prices have also held steady in the previously reported range of $41.50-$42.50 cwt. ($915-$937/mt or $830-$850/nt), DDP loaded truck US Gulf coast ports.
Lastly, US domestic spot market prices have also trended sideways since our last report a week ago, still at approximately $51.00-$52.00 cwt. ($1,124-$1,146/mt or $1,020-$1,040/nt) ex-Midwest, although deals are still available to those interested in booking larger orders.