Will the US HSS market see another price increase?

Wednesday, 27 January 2016 10:05:44 (GMT+3)   |   San Diego
       

In early January US domestic hollow structural sections producers announced an effective immediately price increase announcement $1.50 cwt. ($33/mt or $30/nt), and despite early skepticism that the increase may not gain full traction, within a week’s time, prices did move up by mills’ desired range.

The increase moved the US domestic HSS spot price range to approximately $34.50-$35.50 cwt. ($760-$783/mt or $690-$710/nt), ex-Midwest mill; today, sources close to SteelOrbis say they are hearing that HSS mills may try to firm prices once again, citing firmed prices within the US domestic hot rolled coil market.

Market players are “upbeat and happy” with the current state of the market, sources say, despite ongoing concerns about oversupply.  On the other hand, the recent price firming seen within US domestic flat rolled steel segments seems to have stalled, and despite US domestic scrap prices forecast to trend neutral into February, it should be noted that there is already speculation that scrap prices could come down again in March, which could have a negative impact on downstream product segment pricing.

Should March scrap prices indeed begin to soften, current gains within the US domestic HSS spot market could be vulnerable to downward correction.

Similar articles

Chinese steel pipe export offer prices edge down slightly

27 Mar | Tube and Pipe

US HSS prices revise downward yet again due to soft HRC prices

25 Mar | Tube and Pipe

US structural pipe and tube exports down 41.7 percent in January

22 Mar | Steel News

Chinese steel pipe export offer prices fluctuate within limited range

20 Mar | Tube and Pipe

US structural pipe and tube imports up 13.6 percent in January

19 Mar | Steel News

US mechanical tubing imports up 17.6 percent in January

18 Mar | Steel News

Chinese steel pipe export offer prices move down further

13 Mar | Tube and Pipe

US HSS prices

12 Mar | Tube and Pipe

US HSS prices steady after last week’s drop

07 Mar | Tube and Pipe

Finished US domestic J55 ERW OCTG casing spot market price range

06 Mar | Tube and Pipe