The mid-October price increase announcement by US producers of hollow structural sections may have failed to push prices upward, but the Nov. 15 price increase, which indicated mills would be raising prices by $1.50 cwt. ($33/mt or $30/nt), has resulted in “ever-so-slight” firming, sources say.
Current spot market prices have increased by $0.50 cwt. ($11/mt or $10/nt) on the low end since our last report a week ago, which brings the current ex-mill transaction range to $48-$49 cwt. ($1058-$1080/mt or $960-$980/nt).
Sources close to SteelOrbis have indicated that prices will continue to rise through the first quarter of 2018, which is consistent with currently forecast price increases for US HRC.
“How high HSS prices will go will depend entirely on flat rolled,” the source said.