US domestic flat rolled steel mills have announced back-to-back price increases since late October; those increases have begun to gain acceptance and higher
US domestic hot rolled coil (HRC) prices have, in turn, helped firm spot market prices for downstream products, including
US domestic Grade A ERW BPE standard pipe.
At current, the most commonly reported spot price transaction range for
US domestic Grade A ERW BPE standard pipe has firmed by approximately $1.00 cwt. ($22/mt or $20/nt) since our last report two weeks ago, which brings the current average spot market price range to $41-$43 cwt. ($904-$948/mt or $820-$860/nt), ex-Midwest mill.
Sources continue to report that the “low ball deals are definitely gone,” adding that they believe prices will continue to firm in the upcoming weeks.
In terms of imports, Nov. 15 data from the
US Department of Commerce, Enforcement and Compliance indicates that for during the month of October, the
US imported 65,610 mt (license data) of standard pipe from global sources. This reflects an uptick from October 2015, when the
US imported 61,036 mt (census data) of standard pipe from global steelmakers.