Two weeks ago, it was believed that if
US domestic spot prices for hot rolled coil (HRC) continued to erode, that
US-based standard pipe producers could have a heck of a time preventing prices within that market from eroding as well. But this week,
US Steel rolled out a $1.25 cwt. ($28/mt or $25/nt) price increase on flat rolled products, effective immediately, which could prevent HRC spot prices from sliding further. And as long as that cookie does not continue to crumble, standard pipe mills are likely to keep their average spot price transaction range at approximately $47.00-$48.00 cwt. ($1,036-$1,058/mt or $940-$960/nt) ex-Midwest mill.
In terms of futures prices from Vietnam and Taiwan, they too are unchanged, still coming in at $39.00-$40.00 cwt. ($860-$882/mt or $780-$800/nt) and $38.50-$39.50 cwt. ($849-$871/mt or $770-$790/nt), respectively, both DDP loaded truck in
US Gulf Coast ports.