Spot market prices for US domestic Grade A ERW BPE standard pipe continue to hold at $55-$57 cwt. ($1,213-1,257/mt or $1,100-1,140/nt), ex-mill, but sources close to SteelOrbis have started to question whether the Trump Administration’s proposed Section 232 import quotas will push prices upward in the upcoming months.
“Korea is close to its cap, and depending on what happens with Canada and Mexico, we may find ourselves in a place where we have a product shortage,” a Texas-based source said. “For now there’s still a lot that’s unknown, and all of that will remain unknown until Washington D.C. figures out what its final policy is going to be.”
Current import offers are quiet, sources say, adding that offshore mills are seeking additional clarity with regard to what they can and cannot ship.