Spot prices within the
US domestic hot rolled coil (HRC) market may have finally leveled off, but that hasn’t prevented at least one domestic hollow structural sections (HSS) mill from rolling out a second price increase. On Wednesday, Bull Moose Tube Company announced it would be raising prices on HSS by $2.00 cwt. ($44/mt or $40/nt) effective with shipment starting June 2. Although some have questioned whether other mills will soon follow suit, many question how much, if any of a second price increase will be absorbed. For now, the most commonly reported ex-Midwest spot price transaction range has held at $47.50-$48.50 cwt. ($1,047-$1,069/mt or $950-$970/nt), reflecting no change in the past two weeks.
Meanwhile, import prices from Turkish and Korean producers continue to trend significantly lower than their
US counter parts, with the most commonly reported price range from both countries having held steady at $37.50-$38.50 cwt. ($827-$849/mt or $750-$770/nt), DDP loaded truck
US Gulf coast ports. Trader sources continue to report a wariness in terms of booking speculative tons, and are instead being conservative with their buys.