Sources close to SteelOrbis have confirmed that the most commonly reported spot price transaction range for US domestic API X-42 ERW line pipe are still being heard in the approximate range of $40.00-$42.00 cwt. ($882-$926/mt or $800-$840/nt), ex-Midwest mill, but still-soft rig counts combined with vast declines in year-on-year domestic oil production rates have ex-mill order activity trending light.
Futures prices from Korean producers are still being 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.
In terms of current import tonnages, July 5 data from the US Department of Commerce, Enforcement and Compliance indicate that for the month of June, the US imported 110,375 mt (license data) of line pipe from global sources. This reflects a more than 50 percent dip from June 2015, when the US imported 226,063 mt (census data) of line pipe from global sources.