In the early part of last week, US HSS tubing was being heard at approximately $44.50 cwt. ($981/mt or $890/nt), ex-works, although deals below that price point had been reported.
Yet in light of US flats mills announcing a second, $2.00 cwt. ($44/mt or $40/nt) price increase, tube mills were quick to follow. And while prices have not ticked up by tube mills desired $2.00 cwt. ($44/mt or $40/nt), mills are pushing for transactions in the range of $44.50-$45.50 cwt. ($981-$1,003/mt or $890-$910/nt), ex-works.
“Demand is lackluster right now,” a source said “We are only buying what we sell that we don’t already have. Mills are holding firm for the most part at of $44.50-$45.50 cwt. Everyone is expecting another flat rolled increase in December, after scrap settles, and the tube mills are expected to follow.”