Earlier this week, Korean pipe mills reduced their pricing on J55 ERW OCTG casing to the US and trader sources say they have done the same for US import API X-42. Futures offers, which were previously between $1.00-$2.50 cwt. below Vietnamese and Taiwanese offer prices, are now between $1.50-$2.50 cwt. lower, coming in at approximately $32.50-$33.50 cwt. ($717-$739/mt or $650-$670/nt), DDP loaded truck in US Gulf Coast ports, while futures offers from Taiwan and Vietnam are holding in the approximate range of $35.00 -$36.00 cwt. ($772-$794/mt or $700-$720/nt), DDP loaded truck in US Gulf coast ports.
Domestic spot market prices are also steady at $45.00-$46.00 cwt. ($992-$1,014/mt or $900-$920/nt), ex-Midwest mill. SteelOrbis sources continue to report that all pricing is negotiable based on tonnages. “The market is slow and mills need orders, and if you’re willing to bring some tons to the table you’ll have the upper hand in negotiations,” a source said.