Buyers and sellers of US domestic and import API-X42 ERW line pipe have said that at this point, they are considering the rest of 2015 to be “a wash,” sources said. “It’s slow everywhere. Rig counts are falling and we’re just a couple weeks out from Thanksgiving, and the markets pretty much shut down for the year after that.”
As with US domestic and import OCTG casing, all published pricing is flexible. US domestic, ex-Midwest mill spot pricing for API-X42 ERW line pipe is lateral at $45.00-$46.00 cwt. ($992-$1,014/mt or $900-$920/nt), ex-Midwest mill, while futures prices from Taiwanese producers are also sideways week-on-week, at approximately $25.50-$26.50 cwt. ($562-$584/mt or $510-$530/nt), DDP loaded truck in US Gulf coast ports. As in previous weeks, futures offers from Korean producers are still trending approximately $2.00 cwt. ($44/mt or $40/nt) less. Trader sources say they believe that Korean mills would offer discounts well below this rate if buyers pressed on price.