US domestic flat rolled steel mills have announced four price increases since late October; since the flat rolled steel increases are sticking, it’s not surprising that
US hollow structural sections (HSS)
tubing mills announced another increase of their own.
Last week, HSS tube mills told their customers they would be raising prices by $4.00 cwt. ($88/mt or $80/nt), effective immediately. This latest increase comes on top of a $3.50 cwt. ($70/nt or $77/mt) price increase that was announced on Nov. 7.
Today, although the latest increase was effective immediately, it is still making its way through the market. Current HSS spot market prices are being heard at $43 cwt. ($948/mt or $860/nt), ex-Midwest mill. This reflects a $1.00-$2.00 cwt. ($22-$44/mt or $20-$40/nt) price increase from late November, when prices were heard at $41-$42 ($904-$926/mt or $820-$840/nt) ex-Midwest mill.
“The increase is going to stick. Flat rolled prices are going up and HSS prices are going up too,” one source said. “Especially now that [flat rolled steelmaker] Nucor owns Independence and Southland Tube.”