On Thursday of last week, SteelOrbis reported that domestic HSS prices had fallen to an average transaction price of $56.50 cwt. ($1,246/mt or $1,130/nt), FOB mill. However, rising HRC prices have prompted tube mills to push for increase.
Since that time, both Atlas and Nucor announced plans to raise HSS prices by a minimum of $2.50 cwt. ($55/mt or $50/nt), effective with all new orders, and as of today, HSS prices have risen back to an average transaction price of $59 cwt. ($1,301/mt or $1,180/nt), FOB mill.
It’s not immediately clear whether today’s HRC price increase announcement from US flats producers (which, if accepted, would raise HRC prices from an average of $35 cwt. ($772/mt or $700/nt) to $40 cwt. ($882/mt or $800/nt), FOB mill, will start to gain acceptance. If HRC prices do start to climb to that new, higher level, HSS sources believe that tube mills will also try to push prices up further.