US domestic HSS tubing prices are still strong, sources note, adding that while prices remain in the range of $47.50-$48.50 cwt. ($1,047-$1,069/mt or $950-$970/nt) FOB mill, the cost for delivery into the Southeast is trending about $2.50 cwt. ($55/mt or $50/nt) higher.
Current pricing levels, once delivery costs are calculated, are now higher than pre-COVID-19 price points. In early January 2020, SteelOrbis reported that HSS prices, delivered to customers in the Southeast, were heard at $49 cwt. ($1,080/mt or $980/nt), however, in the aftermath of COVID-19 lockdowns, prices fell and didn’t bottom until early August, when prices were heard at $39 cwt. ($860/mt or $780/nt), delivered.
“Prices are strong, and the market seems have recovered,” a source said. “Coil prices are still climbing, scrap [prices] are expected to come up next month, and I’d be surprised if the tube mills didn’t announce another price increase before the end of the year.”