BigInch. I agree with you in the traditional, I think decades old context of steel or black iron/galvanized pipes/tubes etc. (though I guess I missed the inquirer defining this specifically as "steel").
I'm still a little fuzzy however as to exactly why the the issuer would include such an acronym along with Schedule 40 to mean "Minimum Wall" (particularly if that means the minimum thickness value number in the last column Mr. 25362 refers to) in a "pipe spec" (instead of e.g. just saying Schedule 40 or Heavier steel pipe, if that is what he really wanted)? I guess this is what I meant by possible confusion.