Last week, US HSS tube mills, Hannah Steel Corporation, EXLTUBE, Atlas Tube, announced an immediate price hike of $3.75 cwt. ($83/mt or $75/nt). Nucor, however, did not announce, and it was widely speculated that if Nucor did not “fall in line,” that the increase would not stick.
This week, in the absence of the Nucor announcement, sources have confirmed that the increase has “melted away.” As such, spot market prices remain in the range of $117.50-$120.50 ($2,590-$2,657/mt or $2,350-$2,410/nt), delivered into the Southeast.