The most commonly reported spot price transaction range for US domestic Grade A ERW BPE standard pipe may have held steady since our last report two weeks ago, at approximately $46.00 cwt. ($1025/mt or $930/nt), ex-Midwest mill, but sources close to SteelOrbis question whether corrections within the US domestic hot rolled coil (HRC) market will spill to downstream products.
Current spot market prices for US HRC have corrected by about $0.75 cwt. ($16/mt or $15/nt) on the top end in the past two weeks.
“If hot rolled prices continue to come down we could see some corrections in downstream product pricing,” one source said, “but at this point it’s still too soon to tell how much, if any impact, the current HRC situation will have on standard pipe.”