Sources close to SteelOrbis have confirmed that spot market prices for US domestic HSS tubing is being heard at approximately $71.50 cwt. ($1,576/mt or $1,430/nt), FOB mill.
Demand has not been robust but ok considering the holidays, a source noted adding that mills are “not much interested in discounting” as a means of preserving their monumental spread between HSS and hot rolled coil. At most, he continued, mills are offering discounts of “about $1.00 cwt. ($22/mt $20/nt) for large-tonnage orders.”
“Mill availability continues to improve and it appears that flat rolled mills are working hard to establish a bottom [with their recent price increases,” a second source said. “However, if HSS availability continues to improve and demand does not increase significantly and with new HSS capacity coming on line in 2023 there could be pricing pressure. There are still lots of unknown factors for 2023.”