The most commonly heard spot price transaction range for US domestic Grade A ERW BPE has remained stable since our last report two weeks ago, at $46-$48 cwt. ($1014-$1058/mt or $920-$960/nt), ex-mill; and while overall market activity has trended light in recent weeks, which is typical of the summer months, the Independence Day holiday has the current week trending especially light.
Sources close to SteeOrbis, however say that prices will soon shift depending on the outcome of the Section 232 investigation, which is expected to be announced after the G20 summit in Hamburg, Germany.
If the findings report to affirmative injury, it’s expected that US steel mills will announce sweeping price increases due to imports being shut out of the US market.