Little, if anything has changed within the US domestic API X-52-line pipe market since our last report a week ago.
Activity is light, buyers are reluctant to make stock purchases due to downtrending prices within the domestic steel market, and there’s concern that additional price softening may take place in the upcoming weeks, should US scrap prices tick downward again in July.
Current prices, sources note, are holding between $56-$59 cwt. ($1,235-$1,301/mt or $1,120-$1,180/nt), ex-mill, although as in previous weeks, deals below this range were readily available to volume buyers.