US domestic pipe prices were steady to lower this week amid low domestic pipe demand and further declines in flat steel prices, pipe insiders told SteelOrbis this week.
In the US weekly pipe markets, US domestic J55 OCTG casing for carbon-grade material on an FOB mill basis is discussed steady in continued thin trade at $1,420/nt, ($1,565/mt) or $71.00/cwt., while standard ERW pipe on an ex-mill US Midwest basis declined $50-$75/nt to $1,325-1,350/nt ($1,461-1,488/mt), or on average $66.88/cwt., pipe insiders said. ERW traders said prices could continue to trend lower as a result of declining values for hot rolled coils.
In the hollow sections market, US Midwest ex-mill HSS is discussed steady at $85.00/cwt., or $1,700/nt ($1,874/mt).
“Pipe prices are mostly unchanged out there,” remarked one US Gulf Coast pipe trader about weekly HSS markets. “HSS pricing has yet to move down with lower flat rolled pricing.”
In the weekly flat steel markets, HRC declined another $10/nt to on average $820-830/nt ($904-915/mt) or on average $41.25/cwt., amid a growing outlook for sideways to lower September scrap pricing, market insiders told SteelOrbis this week. Insiders said the combination of approaching annual maintenance season at US mills and a surplus of prime scrap that remained unsold during the August buy cycle could cause monthly scrap values for September to decline for the first time in four months.