US domestic A-53 electric resistance welded (ERW) black plain end (BPE) Grade A standard pipe spot prices have been holding steady after a slight drop a couple weeks ago. Sources tell SteelOrbis that the standard pipe market's stability has come as a surprise considering weakness in US domestic prices for other tubular products such as OCTG, line pipe and structural tubing, which stems for substantial declines in domestic flat rolled and scrap prices the last couple months. Most buyers are holding low standard pipe inventories at the moment, which has led to consistent buying patterns as of late, and kept spot prices stable at $47.00-$49.00 cwt. ($1,036-$1,080/mt or $940-$980/nt) ex-mill. Nevertheless, if flat rolled prices continue to slide throughout June as many expect, standard pipe mills may be forced to become more flexible with transaction pricing.
As for imports, A-53 ERW BPE Grade A standard pipe prices in the US from Korea have fallen about $1.00 cwt. ($22/mt or $20/nt) in the last two weeks, essentially canceling out a price increase in early May. Offer prices are now between $43.00-$44.00 cwt. ($948-$970/mt or $860-$880/nt) DDP loaded truck in US Gulf ports, but trader sources indicate that there may be some room for negotiation considering how slow import sales have been for over a month now.