Two weeks ago,
US domestic hollow structural sections (HSS)
tubing mills announced that prices would be going up by $1.50 cwt. ($33/mt or $30/nt) effective with shipments starting June 15. Today, however, spot prices remain unmoved and continue to trend in the approximate range of $37.50-$38.50 cwt. ($827-$849/mt or $750-$770/nt), ex-Midwest mill. Futures prices from
Korea are also rumored to be in the same rage they were two weeks ago, at $31.50-$32.50 cwt. ($694-$717/mt or $630-$650/nt) DDP loaded truck in
US Gulf coast ports.
SteelOrbis sources say that if flats mills are unable to firm prices on hot rolled coil, and HSS
tubing mills input costs remain unchanged, mill reps may have a hard in getting customers to absorb the announced higher prices. Others point out rumors that flats mills may be planning on rolling out another increase in the near future so it may be too soon to tell whether HSS prices will in fact start to firm. Activity is still pretty good, according to one Midwest-based service center, although activity has tapered off slightly since the middle of the month.