The US domestic standard pipe market is currently being hampered by three key components: the end-of-year-slowdown, service centers' desire to reduce inventory and less than ideal demand. The most commonly reported spot price range for A-53 electric resistance welded (ERW) black plain end (BPE) Grade A standard pipe continues to be reported in the range of $46.00-$47.00 cwt. ($1,014-$1,036/mt or $920-$940/nt) ex-Midwest mill, unchanged since last week, but industry insiders have said that deals are available for anyone interested in placing larger orders. Most buyers, however, are shying away from even small orders and few are willing to make any purchases before the end of the year.
Meanwhile, Korea continues to be the only offshore A-53 ERW BPE Grade A standard pipe producer making any real noise in terms of offers to the US. Korean prices have come down approximately $0.50 cwt. ($11/mt or $10/nt) on the low end in the last two weeks and are now being reported in the approximate range of $40.50-$41.50 ($893-915/mt or $810-$830/nt). Traders, though, say few are interested in booking futures at the current time and anticipate the market will trend quiet until after people return from their holiday vacations. It is not believed that activity will resume until the second week in January.