Spot prices for US domestic A-53 ERW BPE Grade A standard pipe have become increasingly flexible since our last report two weeks ago; the most commonly reported ex-mill spot price transaction range may be steady at $42.50-$43.50 cwt. ($937-$959/mt or $850-$870/nt), ex-Midwest mill, sources close to SteelOrbis say there are a number of distribution centers that are selling “well below replacement cost” due to sluggish market conditions.
Offshore futures offers have also corrected downward by approximately $4.00 cwt. ($88/mt or $80/nt), according to trader sources, bringing the new ranges from Turkish and Vietnamese mills to $29.00-$30.00 cwt. ($639-$662/mt or $580-$600/nt), DDP loaded truck in US Gulf coast ports. Trader sources say that the market has become so slow, that offshore producers are willing to do “whatever it takes” to negotiate orders. Interest in booking futures, however, remains light.