Sources within the US domestic HSS market say that spot market prices are still trending between $44-$46 cwt. ($970-$1,014/mt or $880-$920/nt), ex-mill, adding that “mills are still trying to inch prices a bit higher.”
Higher prices within the US HSS market could be supported by higher scrap prices this month. Yesterday, SteelOrbis reported that US scrap prices settled upward by $20/gt ($20/mt) during the August buy cycle.
Demand continues to be good, sources note, which may also contribute to support for higher HSS price points in the short-term.
“The CRU seems to be creeping up but I don’t think that mills’ ability go get higher prices is going to be a slam dunk,” a source said. “For now it’s just a wait-and-see situation.”