The spot price range for US domestic A-53 electric resistance welded (ERW) black plain end (BPE) Grade A standard pipe has narrowed by approximately $1.00 cwt. ($22/mt or $20/nt) on the high end since our last report two weeks ago. Most transactions are now taking place between $46.00-$47.00 cwt. ($1,014-$1,036/mt or $920-$940/nt) ex-Midwest mill. Additionally, the majority of purchases are taking place toward the lower end of that range, and those interested in making larger purchases are able to transact up to $1.00 cwt. ($22/mt or $20/nt) below $46.00 cwt. ex-mill.. This downward shift has been anticipated for weeks, given the now month-long price softening in the US domestic hot rolled coil market.
Shifting focus to imports, Korean offers for A-53 ERW BPE Grade A standard pipe continue to be reported in the range of $40.50-$41.50 cwt. ($893-$915/mt or $810-$830/nt) DDP loaded truck in US Gulf ports, reflecting no change since our last report two weeks ago. Offers from the Philippines are also now available and are in the range of $42.50-$43.50 cwt. ($937-$959/mt or $850-870/nt). Traders are saying that activity is weak as buyers have grown increasingly concerned about the potential of an antidumping suit being filed against Korea and whether that action could also include standard pipe. Although no official action has been taken, increased chatter and rumors citing an “any day now” file date has caused many to maintain a holding pattern.