Sources close to SteelOrbis say that spot market prices for US domestic hollow structural sections (HSS) tubing have continued to firm in the past week, and it’s believed that another price increase announcement is imminent.
Current pricing has increased by $1.50 cwt. ($33/mt or $30/nt) in the past seven days alone; today the most commonly heard spot price transaction range for HSS tubing is trending between $53.50-$54.50 ($1179-$1202/mt or $1070-$1090/nt) ex-mill.
US HRC pricing has also been firming, sources note, adding that some mills are already starting to quote HRC at $45 cwt. ($992/mt or $900/nt) ex-mill. “It’s not there yet, but it will be soon,” a source said. “Between higher hot rolled costs and higher scrap pricing, I don’t think anyone will be surprised when the tubing mills announce they’re raising prices.”