US domestic standard pipe prices tick downward

Wednesday, 07 June 2017 22:17:46 (GMT+3)   |   San Diego
       

The most commonly heard spot price transaction range for US domestic Grade A ERW BPE has softened by $2.00 cwt. ($44/mt or $40/nt) since our last report, which brings the current average spot market price transaction range to $46-$48 cwt. ($1014-$1058/mt or $920-$960/nt), ex-mill. Sources close to SteelOrbis have indicated that the price softness is linked to the recent downtrend in US HRC pricing.

This week, however, two US domestic flat rolled steel mills announced they will be raising spot market prices for US HRC by $1.50 cwt. ($33/mt or $30/nt), effective with all new orders; many speculate that “it’s only a matter of time” before the other flats mills announce as well.

Midwest-based sources say they believe that if the current flat rolled price increase stalls further downtrends for US HRC, that HRC price stability will help keep US domestic standard pipe prices from eroding any further.


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