Steel tube manufacturer Independence Tube Corporation announced Monday that due to continuing raw material increases, Independence Tube is forced to increase the price on HSS products effective with all new orders received after 8:00 a.m. CST Monday, January 10, 2011. The minimum price increase will be as follows:
2" SQ-12" SQ (and corresponding rectangles)-$3.50 cwt. ($77/mt or $70/nt)
All ITC50 Pipe Size & HSS Rounds up through 12.75" OD-$3.50 cwt. ($77/mt or $70/nt)
All orders currently on the company's books will be price protected for shipments through February 7, 2011. This increase will apply to all unconfirmed quotes and contracts.