A relatively “boring and uninteresting” trend within the
US domestic and import standard pipe markets has sustained since our last report two week ago, as the factors that could have led to changes have not materialized. First, the long-anticipated increase for
US domestic hot rolled coil (HRC) never happened and if anything, flats mills are hoping prices won’t start to slip. Second, the ever-possible line pipe trade case has not been filed, which, had that announcement been made, could have led to certain offshore mills shifting focus to standard pipe offers to the
US.
As it stands, both
US domestic spot prices and futures prices for Grade A electric resistance welded (ERW) black plain end (BPE) standard pipe are lateral, at approximately $47.00-$48.00 cwt. ($1,036-$1,058/mt or $940-$960/nt) ex-Midwest mill, while futures offers from
Taiwan and
Vietnam have remained in the respective ranges of $38.50-$39.50 cwt. ($849-$871/mt or $770-$790/nt), and $39.00-$40.00 cwt. ($860-$882/mt or $780-$800/nt), both DDP loaded truck in
US Gulf Coast ports.