The most commonly heard spot prices for
US domestic Grade A ERW BPE standard pipe have firmed by $2.00 cwt. ($44/mt or $40/nt) since our last report two weeks ago, bringing the current average spot market price transaction range to $49-$50 cwt. ($1080-$1102/mt or $980-$1000/nt), ex-mill.
The uptick is attributed to increased raw material costs and hot rolled coil prices that were seen during the month of March, although the effect of the expected drop in scrap prices this month is so far unclear. Despite steady demand, sources are questioning how long current price points will hold, not only in light of scrap, but in anticipation of the typically slow summer buying season. All combined, sources say these factors could result in a price correction sometime during the next 90 days.