SteelOrbis has learned that US domestic HSS producers have announced they’ll be raising prices by a minimum of $7.50 cwt. ($165/mt of $150/nt), effective with all new orders. Prior to today’s increase, prices were trending at roughly $99.50-$101.50 cwt. ($2,194-$2,238/mt or $1,990-$2,030/nt), FOB mill.
Sources have said they not only believe that this price increase will be accepted by the market, they suspect another price increase is “just around the corner. The ink needs to dry on this one before the next one comes out.”