Last week, US domestic hollow structural sections (HSS) tubing producers announced their latest price increase announcement. This week, prices have climbed as expected.
Sources close to SteelOrbis have confirmed that this week’s spot market pricing is trending in the range of $119-$120 cwt. ($2,624-$2,646/mt or $2,380-$2,400/nt), FOB mill, against a range of $113-$114 cwt. ($2,491-$2,513/mt or $2,260-$2,280/nt), FOB mill, a week ago.
To put that into perspective, during the same reporting period in 2020, US HSS prices were trending at $39 cwt. ($860/mt or $780/nt), FOB mill, which means that prices have more than tripled in the past 12 months.
“In all my years in the industry I never would have imagined that prices would be as high as they are now,” a source said. “But with how things are going with hot rolled, I wouldn’t be surprised if we see more [HSS] increases announced before the end of the year.”
