Last week, Nucor Tubular Products, Bull Moose Tube and Atlas Tube announced they would be raising prices on all HSS tubing by a minimum of $2.00 cwt. ($44/mt or $40nt), effective with all new orders. The increase announcements came less than a week after US flat rolled steel mills announced a similar price hike.
This week, US flats mills announced a second price increase. It’s not immediately clear if US-based tube mills will follow suit.
Although some believed it may take “a couple of weeks” for the increase to gain traction, some sources close to SteelOrbis have said that pricing, which was heard in the range of $43-$44 cwt. ($948-$970/mt or $860-$880/nt) early last week, just before the increase, has risen to $44-$45 cwt. ($970-$992/mt or $880-$900/nt), ex-mill. Others have said that deals below this range are still available.
The question as to whether this week’s US HRC price increase announcement may help firm HSS prices further has yet to be answered.