US HSS prices may have firmed slightly since the mid-November price increase announcement, but week-over-week prices have remained stable.
The current average spot market price transaction range continues to hold at $48-$49 cwt. ($1058-$1080/mt or $960-$980/nt), ex-mill, sources note, adding that the year-end-slowdown in order activity, coupled with stable US HRC prices have “failed to push the needle.”
At current, US scrap prices are forecast to move upward during the December buy-cycle, and many believe that higher scrap prices coupled with decreased flat rolled import arrivals during the first quarter of 2018 “have poised prices to firm across the flat rolled and tube spectrum,” another source added.
“The tube mills are going to want to keep up with flat rolled procing,” the source said. “As soon as HRC starts to move up, the tube mills are going to be less willing to negotiate.”