The most commonly reported spot market transaction cost for
US domestic hollow structural sections (HSS)
tubing may still be trending at approximately $35.50 cwt. ($783/mt or$710/nt), ex-Midwest mill, but sources close to SteelOrbis have been quick to note that
tubing mills’ previously announced $1.50 cwt. ($33/mt or $30/nt) price increase for all new shipments is set to take hold on Monday.
Market players agree the upcoming price increase will stick.
“This definitely isn’t demand-based,” one source notes. “But since scrap prices are up and hot rolled prices are up it’s no great shock that HSS mills are pushing prices up, too.”
It’s been further speculated that in light of this month’s forecast firming trend for
US domestic scrap prices, combined with yesterday’s announcement by NLMK that they will be raising prices on
US domestic flats products by $2.00 cwt. ($44/mt or $40/nt), effective immediately, that HSS mills may announce another price increase for June shipments.