Spot prices within the
US domestic flats market are assuredly on a downtrend, and it was only time before the price softening spilled into the
US domestic Grade A electric residence weld (ERW) black plain end (BPE) standard pipe markets. Prices have ticked down by approximately $2.00 cwt. ($44/mt or $40/nt) since our last report two weeks ago, bringing the current average spot market transaction range to $45.00-$47.00 cwt. ($705-$1,014/mt or $900-$920/nt), ex-Midwest mill, although sources close to SteelOrbis say that most medium to larger-sized orders are taking place at the bottom end of that range.
US import prices are also trending soft, according to another Texas-based source. Turkish futures offers are available 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, which has enticed several buyers to place orders due to the attractive price.