SteelOrbis sources have confirmed that spot market prices for US domestic HSS tubing have firmed since mills’ most recent price increase. As expected, prices have risen by $5.00 cwt. ($110/mt or $100/nt) since our last analysis on April 28. Spot market prices are now trending in the range of $93-$94 cwt. ($2,050-$2,072/mt or $1,860-$1,880/nt), FOB mill.
Current prices have risen by approximately $31 cwt. ($683/mt or $620/nt) since January 1, when spot market prices were heard at approximately $62 cwt. ($1,367/mt or $1,240/nt), FOB mill. Prices have also more than doubled year-over-year. For example, during the first week of May, 2020, the average US HSS spot market price was heard at approximately $42 cwt. ($926/mt or $840/nt), FOB mill.
The continued upticks in US HSS pricing, sources note, is directly attributed to record-high-and-still-rising hot rolled coil prices.