US mechanical tubing and standard pipe prices follow coil, import offers down

Prices for mechanical tubing and standard pipe have declined in the United States in direct response to lower hot-rolled coil prices and distributors' diminished buying appetites.

Import offers for electric-resistance welded (ERW) tube and pipe retreated in October after customers complained that these products were not cheap enough compared with their domestic counterparts, market participants said. Welded tubular items dropped in tow with domestic HRC substrate prices, which have fallen by more than 7% since the start of the United Auto Workers union strike at General Motors Co's domestic facilities. Fastmarkets' daily steel HRC index, fob mill US, was calculated at $25.73 per hundredweight on Tuesday October 8, down from $27.70 per cwt on September 16 - the first day of the UAW strike at GM. "Business activity, along with prices, have softened a bit. Falling sheet steel prices have definitely had a negative effect this...

Published

Dom Yanchunas

October 09, 2019

21:21 GMT

New York