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.