SteelOrbis

US domestic line pipe prices firm on the heels of HRC

Friday, 13 January 2017 01:19:33 (GMT+3)   -   San Diego

The most commonly heard spot price transaction range for API X-42 ERW line pipe has range has firmed by $3.00 cwt. ($66/mt or $60/nt) from levels seen in mid-December, which brings the current average spot market price transaction range to $43-$45 cwt. ($948-$992/mt or $860-$900/nt), ex-Midwest mill.  The recent price firming is directly linked to upticks in mills’ input costs.
 
US domestic hot rolled coil (HRC) prices have jumped drastically since mid-October, when US HRC prices were heard at $23.50-$24.50 cwt. $518-$540/mt or $470-$490/nt), ex-Midwest mill; since that time, US flats mills have announced five price increases and now, the most commonly heard spot market price for US domestic HRC is trending at $30.00-$31.50 cwt. ($661-$694/mt or $600-$630/nt), ex-Midwest mill.
 
“It’s no great surprise that line pipe prices are up, especially considering what’s been going on with [hot rolled] coil,” one source said. “Between that, increased demand and the fact that the oil rig count is climbing, I’d be surprised if this was the end of it.”

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