Earlier this week, US domestic tube mills announced they would be raising prices on all HSS pipe by a minimum of $2.00 cwt. ($44/mt or $40/nt), effective with all new orders. Prior to the increase, prices were being heard at approximately $44.50 cwt. ($981/mt or $890/nt), ex-works, although deals below this level had been quietly available, due to unexciting demand levels.
“The second the flats mills announced, we figured it was only a matter of time before the tube mills put something out,” a source said. “The big question is whether it’s going to stick.” Market sources further believe that the HSS increase “may not have sticking power” should the US HRC price increase fail to gain traction.
Flats sources, however, say they believe that US HRC prices will indeed firm, although full acceptance of the most recent increase is unlikely to come fast.