US domestic hot rolled coil (HRC) prices have been on a downward slide in recent weeks, and as such, prices for US domestic Grade A and Grade B standard pipe have been pressured into correction.
Prices for both products have ticked down by $1.00 cwt. ($22/mt or $20/nt) since our last report two weeks ago, which bring the current range for US domestic Grade B standard pipe to $56.50-$57.50 cwt. ($1,246-$1,268/mt or $1,130-$1,150/nt), ex-mill; prices for US domestic Grade A standard pipe are being heard at approximately $2.50 cwt. ($55/mt or $50/nt) below the Grade B range.
Buyers, however, say that sluggish December order activity, which is typical of the year-end holiday season, has mills hungry to book orders and as such, anyone who is looking to book volume “won’t have much difficulty in getting a better deal.”
The question as to how far US standard pipe prices has yet to be known, although it’s believed that pricing within this market will not stabilize until HRC prices stabilize as well.