The $60 /nt price increase implemented by US tubing producers in early August has been rescinded according to domestic buyers.
Atlas Tube told its customers that it will be canceling the $60 /nt August increase, and other mills are following suit. Demand has slowed considerably and raw material costs have not been increasing as rapidly as they were a few months ago, putting downward pressure on tube prices.
Current domestic hollow structural sections (HSS) prices are approximately $71.00 cwt. ($1,565 /mt or $1,420 /nt); however, the pricing trend is slightly down as buyers say some price decreases may come within the next few months due to weakening demand and softening flat rolled prices.