US welded standard pipe spot prices have been under pressure over the past month from declines in US scrap prices as well as significant drops in US domestic flat rolled steel prices. Although pipe demand has been decent enough that mills had been able to stave off major drops in response, sources tell SteelOrbis that buyers have been pressuring US mills to be more lenient with prices. As a result, most A-53 electric resistance welded (ERW) black plain end (BPE) Grade A standard pipe spot transactions are now taking place on the lower end of the previously reported $50.00-$51.00 cwt. ($1,102-$1,124/mt or $1,000-$1,020/nt) ex-Midwest mill range.
With the anticipation the US standard pipe spot prices could soften further in the coming weeks, import activity continues to be quiet. But while US buyers are finding import offer prices to be too much of a risk in the current soft market, the US' most common import sources haven't dropped offer prices to try and entice buyers either. Turkish offer prices are still approximately $44.50-$45.50 cwt. ($981-$1,003/mt or $890-$910/nt) DDP loaded truck in US Gulf ports, while Korean and Taiwanese prices are about $0.50 cwt. ($11/mt or $10/nt) lower.