The most commonly heard spot market price for US domestic Grade A ERW BPE standard pipe is hovering at $45.00 cwt. ($992/mt or $900/nt), ex-Midwest mill, although SteelOrbis sources are reporting that the stated price point is “by no means firm,” adding that deals below this range are “not difficult to get on larger-sized orders.” Smaller-sized buyers, however, are not having much success in price negotiation.
Looking offshore, US import GRADE A ERW BPE standard pipe from Korean steelmakers is being heard in the approximate range of $41.00-$41.50 cwt. ($893-$904/mt or $820-$830/nt), DDP loaded truck in US Gulf coast ports. August 9 data from the US Department of Commerce, Enforcement and Compliance shows that for July 2016, the Korean steelmakers shipped 10,082 mt (license data) of standard pipe to US buyers. In comparison, Korean steelmakers shipped 2,330 mt (census data) of standard pipe to customers in the US.
In terms of overall market activity, orders and inquiries are still holding steady, but remain “somewhat tepid,” sources note, citing the “typical summer slowdown” as being the primary catalyst of current buying trends.