Spot market prices for US-made steel products have been on an upward trajectory, and many are questioning how high prices will go before the markets level, and correct.
“Prices are up across the board,” a source said, adding that current spot market pricing for US domestic Grade A ERW BPE standard pipe is now trending at “at least $54 cwt. ($1191/mt or $1080/nt), ex-mill, due to the rising costs of hot rolled coil.”
In contrast, spot market prices were trending at $51-$53 ($1124-$1168/mt or $1020-$1060/nt), ex-mill, before President Trump announced at 25 percent tariff Section 232 tariff on imported steel.
HRC prices, which are currently trending between $41-$44 cwt. ($904-$970/mt or $820-$880/nt), ex-mill, are expected to climb to at $45 cwt. ($992/mt or $900/nt), ex-mill.
“It’s anyone’s guess as to where this thing will stop,” another source said.