Last week, SteelOrbis reported that the $2.00 cwt. ($44/mt or $40/nt) price increase announced by US domestic tube mills had gained traction. Since then, week-over-week prices have remained stable, and continue to trend in the range of $53-$54 cwt. ($1,169-$1,191/mt or $1,060-$1,080/nt), ex-mill.
Current prices are slightly up year-on-year, when mid-February 2018 prices were reported at $52.00 cwt. ($1,146/mt or $1,040/nt), ex-mill.
Demand for HSS continues to be steady, sources note, adding that the price increase seems to be sticking, despite this month’s sideways price for scrap and relatively unexciting, albeit stable price points within the domestic hot rolled coil market.
“The situation this week mirrors what we saw last week,” a source said. “Overall the market is pretty stable, and we don’t expect to see too many changes between now and the end of the month.”