US HSS mills announce price increase, but will it push prices higher?

Wednesday, 20 May 2020 20:07:26 (GMT+3)   |   San Diego

For the past two weeks, SteelOrbis reported rumors that US domestic HSS tube mills were on the verge of announcing a price increase, and many sources expected that mills would have announced before the end of last week. The delayed announcement, finally arriving yesterday, is attributed to the slow acceptance of US flat mills’ HRC price increase.

Nucor Tubular Products, ExlTube, Atlas and Bull Moose Tube all announced they’d be raising prices by $2.00 cwt. ($44/mt or $40/nt), effective immediately. Yet the big question is how successful the attempt will be.

“We think it could have some sticking power but it’s too soon to tell,” one source said. “There was some restocking prior to the increase at ‘deals available’ pricing. We bought pretty heavy considering demand has actually increased with some large jobs being turned loose. Flat rolled seems determined to get prices up and so do the tube mills. But again, it’s too early to tell if they are going to be successful.”


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