US HSS mills have decided to close out the month of February by announcing yet another price increase. The first increase, which was rolled out during the first full week of the month, indicated mills would be raising prices by $1.50 cwt. ($33/mt or $30/nt); this week’s increase was announced at $2.50 cwt. ($55/mt or $50/nt), effective with all new orders.
Tube mills throughout the US said the increase was due to continued upticks in cost for US HRC. However, current HSS pricing is unchanged since the announcement, continuing to hold at $52.00 cwt. ($1146/mt or $1040/nt), ex-mill.
Buyers largely expect the increase will stick, and it’s also widely believed that prices will continue to go up after Trump makes his final decision on the Section 232 case.
Although the he has until early April to make his final announcement about his intentions to implement US DOC recommendations in the Section 232 investigation, it’s largely speculated the announcement will be made in early March, at a campaign rally in Pennsylvania.
That rally will be held in advance of a special election to fill the now-vacant PA-18 Congressional District seat, which has traditionally been held by Republicans but is now at risk of turning Democrat in the upcoming election.