Spot market prices for US domestic HSS tubing are now trending at approximately $84 cwt. ($1,852/mt or $1,680/nt), FOB mill, which reflects full acceptance of last week’s $7.50 cwt ($165/mt or $150/nt) increase announcements.
Current HSS prices are trending nearly $30 cwt. ($661/mt or $600/nt) above domestic HRC prices, which is double the average spread seen before the COVID-19 pandemic. Sources also believe that HSS prices are likely to hold steady in the short-term, unless US HRC prices “keep rising by the leaps and bounds that we’ve seen happen over the past several weeks.”