Two weeks ago SteelOrbis reported that standard pipe prices had jumped up by approximately $4.00 cwt. ($88/mt or $80/nt) from levels heard in May—a trend which was largely attributed to hikes in both scrap and hot rolled coil (HRC) prices.
Now, however,
US domestic standard pipe prices have held lateral since our last report two weeks ago and continue to hold at approximately $46.00 cwt. ($1025/mt or $930/nt), ex-Midwest mill.
Although NLMK, AMUSA and California Steel Industries have all announced they will be raising HRC prices, it’s still too soon to tell whether the increase will be accepted in the marketplace. In the absence of major adjustments to HRC prices, sources note, it’s believed that
US domestic standard pipe prices will remain “relatively stable.”