Over the past couple weeks, welded standard pipe producers in the US have been announcing immediate price increases ranging from $2.50-$3.00 cwt. ($55-$66/mt or $50-$60/nt)--most recently by Northwest Pipe--due to increasing raw material costs, namely domestic hot rolled coil spot prices. While demand for electric resistance weld (ERW) standard pipe is still weak and buyers continue to be extremely cautious with their purchases, both producers and buyers are optimistic about the price increases holding, at least for the time being. In the last two weeks, A-53 ERW black plain end (BPE) Grade A standard pipe spot prices have firmed about $1.00 cwt. ($22/mt or $20/nt) on the high end and are now between $48.00-$50.00 cwt. ($1,058-$1,102/mt or $960-$1,000/nt) ex-Midwest mill, and will likely continue to increase over the coming weeks.
Despite some growing confidence in the US domestic market, import activity is still slow and most aren't willing to take the risk of offshore material in a still-uncertain US market. As a result, Korean A-53 BPE Grade A standard pipe offer prices to the US have fallen another $1.00 cwt. to $44.00-$45.00 cwt. ($970-$992/mt or $880-$900/nt) DDP loaded truck in US Gulf ports. Taiwan and Turkish offer prices are slightly higher, and also generating little US buyer interest.