The recent price increase announcements by
US domestic flat rolled steel mills has, as previously predicted, bolstered the chances for the acceptance of price increase by
US domestic hollow structural sections (HSS)
tubing mills.
After Atlas Tube announced a substantial $3.50 cwt. ($70/nt or $77/mt) price increase on HSS yesterday, sources tell SteelOrbis that a portion of the increase has already been absorbed; there are still, however, questions as to when full price increase will be accepted by the market. SteelOrbis sources, however, say they believe full acceptance is “just a matter of time.”
For now,
US domestic HSS
tubing spot prices are ranging from $40-$41 cwt. ($800-$820/nt or $882-$904/mt) ex-Midwest mill, reflecting a $2.00 cwt. ($40/nt or $44/mt) increase on the lower end and a $1.50 cwt. ($30/nt or $33/mt) increase on the top end since our last report two weeks ago.
Buyers’ full acceptance of this week’s price will likely be linked to the results of the
US Presidential race, in which candidate Donald Trump emerged as the victor. Some SteelOrbis sources feel there is a renewed sense of optimism within the marketplace, noting they are now looking toward positive outcomes in trade and infrastructure building.