The most commonly heard spot price transaction range for
US domestic Grade A ERW BPE standard pipe has firmed by approximately $3.00 cwt. ($66/mt or $60/nt) on the low end, and by $2.50 cwt. ($55/mt or $50/nt) on the top end since our last report two weeks ago. This brings the current average transaction range to $46.50-$47.50 ($1025-$1047/mt or $930-$950/nt), ex-Midwest mill.
The upticks come on the heels of upticks in
US domestic hot rolled coil (HRC) and scrap prices, which firmed throughout the
US during the January buy-cycle.
Buyers and sellers of all steel products throughout the
US continue to cite increased market optimism within the domestic steel industry now that President Donald Trump has been sworn into office. Today, the,
US stock market [Dow Jones industrial average] rose above 20,000 for the first time in history. The Dow has climbed more than 1,600 points since the November election.