Although prices for
US domestic and import API X-42 electric resistance welded (ERW) line pipe have remained steady since our last report seven days ago, the recent announcement of the final AD/CVD margins against OCTG mills from nine different countries has shaken up the line pipe market.
First, trader sources say they believe that any and all futures line pipe offers from Taiwanese mills are expected to dry up in the very near future. Their margins in the trade case were levied at just 2.52 percent, and it’s believed Taiwanese mills will shift focus from API-X42 and try to pick up OCTG market share. Other sources close to SteelOrbis say that since the OCTG case was successful, they are well aware of
US domestic mills that are “chomping at the bit” to get on the petitioner list for a potential line pipe case, many of whom believe could come as early as next month.
For now, though, things remain at status quo, as futures prices from Taiwanese and Vietnamese mills are still reported at $38.50-$39.50 cwt. ($849-$871/mt or $770-$790/nt) DDP loaded truck
US Gulf coast ports, while offers from
Korea remain at approximately $39.50-$40.50 cwt. ($871-$893/mt or $790-$810/nt) DDP loaded truck
US Gulf coast ports. Spot prices within the
US market are also unchanged, still coming in at approximately $51.00-$52.00 cwt. ($1,124-$1,146/mt or $1,020-$1,040/nt) ex-Midwest mill, although it’s rumored that deals slightly below this range continue to be available on sizeable orders.