Little, if anything has changed within the US domestic and import API X-52 line pipe market in the past seven days.
US domestic API X-52 spot market prices continue to be heard in the range of $64-$67 cwt. ($1,411-$1,477/mt or $1,280-$1,340/nt), ex-mill, while at least one Mexican mill is offering API X-52 to the US at $65 cwt. ($1,433/mt or $1,300/nt), FOB Texas, which includes the Section 232 tariff.
Market sources continue to report keeping a close eye on US-Mexico trade negotiations; last week SteelOrbis reported that Mexican mills believe they will receive an exemption from the tariff, and instead, may be subject to quotas, should a bilateral trade agreement be reached.
Others, however, believe strongly that Congress will not agree to a trade agreement that does not include Canada. A final congressional vote is not expected until early 2019.