Two weeks ago Bull Moose Tube Company announced it would be raising prices on hollow structural sections (HSS) by $2.00 cwt. ($44/mt or $40/nt) effective with shipments starting June 2, and since that time, other mills have followed suit. However, those mills were aiming for an immediate price increase, which has not yet taken hold. “The mills are adamant that their costs have gone up,” according to one Midwest service center, noting that while production costs may have risen, mills are having a hard time getting customers to pay higher prices--for now. The most commonly reported ex-Midwest mill spot price transaction range has remained in the approximate range of $47.50-$48.50 cwt. ($1,047-$1,069/mt or $950-$970/nt), unchanged since our last report two weeks ago.
Meanwhile, offshore offers from Turkey and Korea are still available, and trader sources say there have been a few buys taking place. Prices from both countries have held at approximately $37.50-$38.50 cwt. ($827-$849/mt or $750-$770/nt) DDP loaded truck US Gulf coast ports. Offshore bookings are expected to trend steady, albeit light through the summer, with an additional flurry of larger buys taking place in the fall for early 2015 arrival.