It’s been a quiet seven days for movers and shakers within the US domestic and import API X-42 ERW line pipe market, as most have extended their year-end vacations through the end of the current week. And not surprisingly, US domestic spot prices have held sideways at $51.00-$52.00 cwt. ($1,124-$1,146/mt or $1,020-$1,040/nt) ex-Midwest mill, although that soon could change. “The energy pipe markets are poised for a slowdown,” according to one Texas-based source, noting that falling oil prices are directly tied to drilling, and once drilling falls off mills will become increasingly flexible on price. Yet at this point, with so many people out of the office until after the New Year, the question of “how flexible” won’t be answered until buyers and sellers return.
Futures offers out of Taiwan are also steady in the past week, still at $38.50-$39.50 cwt. ($849-$871/mt or $770-$790/nt), while prices from Vietnamese producers continue to trend about $0.50 cwt. ($11/mt or $10/nt) above the Taiwanese range, both DDP loaded truck in US Gulf Coast ports. As with last week, Indian offer prices have once again remained lateral, at $41.50-$42.50 cwt. ($915-$937/mt or $830-$850/nt) DDP loaded truck US Gulf coast ports, while third-tier Korean producers continue to quote in the approximate range of $41.00-$42.00 cwt. ($904-$926/mt or $820-$840/nt). Lastly, first-tier Korean mill offer prices are also still available, and are trending about $2.00-$3.00 cwt. higher than their third-tier counterparts.