In the past seven days, US flat rolled steel mills have announced yet another price increase announcement, and sources close to SteelOrbis have said it’s mills “strong desire” to get US HRC prices up to $30.00 cwt. ($661/mt or $600/nt), ex-mill, “as soon as they can get the increases pushed through.”
As US HRC prices seem to have maintained a slow, upward trend, it’s believed a US HSS increase announcement is imminent. For now, spot market prices have remained in the range of $45.00-$46.00 cwt. ($992-$1,014/mt or $900-$920/nt), ex-works. Tube prices are likely to remain stagnant between now and the end¬ of the year, as many in the US will take the next two weeks off to celebrate the Christmas and New Year.