US HSS prices are expected to firm in the upcoming days sources note, as this week's $5.00 cwt. ($110/mt or $100/nt) price increase is expected to take hold. The increase comes after continued price firming within the domestic HRC market. Current HRC prices, which are trending in the range of "at least $67-$68 cwt. ($1,477-$1,499/mt or $1,340-$1,360/nt), FOB mill," are likely to climb further in the upcoming weeks as finished steel demand continues to outpace production rates.
Prior to this weeks' price increase, spot market prices for US domestic HSS tubing were trending in the range of $82.75-$84.75 cwt. ($1,824-$1,868/mt or $1,655-$1,695/nt), FOB mill. Sources close to SteelOrbis say it's widely held that this week's increase will gain acceptance. Additionally, one SteelOrbis source confirmed that due to historically high and still-climbing domestic HSS prices, one of his fabricator customers "bought 2,200 tons of HSS for some jobs through the end of the year from China."