Ex-mill spot market pricing for US domestic Grade A ERW BPE standard pipe has jumped up starkly since our last report two weeks ago; current prices are being heard approximately $2.50-$3.50 cwt. ($55-$66/mt or $50-$60/nt) higher than those heard in late-May.
Today, the most commonly reported spot price for Grade A ERW BPE is being heard at $46.00 cwt. ($1025/mt or $930/nt), ex-Midwest mill.
The increase comes on the heels of an announcement by US domestic pipe mills that they would be raising all spot market pricing, effective immediately, due to sharp upticks hot rolled coil pricing and thus, mills’ input costs.
Industry insiders have told SteelOrbis they believe that US HRC prices have finally peaked, which is expected to lend stability to standard pipe prices, as well.