Sources tell SteelOrbis that the average spot market price for US domestic HSS tubing went from $71.50 cwt. ($1,576/mt or $1,430/nt), FOB mill, to $74 cwt. ($1,631/mt or $1,480/nt), FOB mill, and then back down to $72.50 cwt. ($1,599/mt or $1,450/nt), FOB mill, all in the span of two weeks.
Sources close to SteelOrbis have noted that this all started when Atlas Tube announced a $2.50 cwt. ($55/mt or $50/nt) price increase announcement. The other mills were quick to follow, sources note, adding that this is what drove prices up to the $74 cwt. mark.
A final mill, however, also told customers they planned to raise prices, however, their increase was announced at $1.00 cwt. ($22/mt or $20/nt),
“We saw prices go up, and then we saw them go back down,” a source said. “The mills thought they were raising prices in lock-step, but when the final mill only raised prices by $1.00 cwt., the mills who implemented the $2.50 cwt. increase backed down. Either way, the spread between HSS and HRC is still ridiculous and the tube mills are still making money hand over fist.”
