On Monday of last week, US domestic HSS mills announced they'd be raising prices by $2.50 cwt. ($55/mt or $50/nt), effective with all new orders. Today, SteelOrbis has learned that the full price increase has been accepted.
Today, prices are being heard at approximately $41.50 cwt. ($914/mt or $830/nt), FOB mill and $43.50 cwt. ($959/mt or $870/nt), delivered to customers in the Southeast. Sources note the uptick in pricing is "not surprising based on the recent run up we've seen on [hot rolled] coil prices."
Sources also believe that tube mills are likely to try for another price hike within the next few weeks.