Pricing for US domestic Grade A and Grade B standard pipe has slipped since our last report a month ago, marking the second times in two months that prices have softened. As with last month, sources report the reason for the downward price revision is directly linked to increasingly flexible US HRC pricing.
In the previous two months, the price trend has been as follows: mid-September prices for US domestic Grade B standard pipe were heard in the range of $61.50-$64.00 cwt. ($1,356-$1,411/mt or $1,230-$1,280/nt), ex-mill, while in mid-October, prices had slipped to $59.00-$60.00 cwt. ($1,301-$1,323/mt or $1,180-$1,200/nt), ex-mill.
Today, sources close to SteelOrbis have noted that pricing has come down by an additional $1.50 cwt. ($33/mt or $30/nt), which brings the current range to $57.50-$58.50 cwt. ($1,268-$1,290/mt or $1,150-$1,170/nt), ex-mill, although some buyers have reported that deals slightly below this range are available to those who are looking to book significant tonnage.
Prices for Grade A standard pipe are being heard in a range that's approximately $2.50 cwt. ($55/mt or $50/nt) below the Grade B range. It's currently believed that prices will continue to be soft throughout the rest of November.