Last week, SteelOrbis reported that spot market prices for US domestic HSS tubing were trending in the range of $44-$46 cwt. ($970-$1,014/mt or $880-$920/nt), ex-mill. Today, sources note, prices have firmed up within that range.
“Mills are trying to hold at $46 cwt. ($1,014/mt or $920/nt), although at least one is still selling $1.00 cwt. ($22/mt or $20/nt) below that,” a source said. “The problem is that none of us know how long this is going to last. The mills are doing their best to remain firm but based on what’s going on in the market, it’s hard to say how long the mills will be able to do that. We’re also seeing demand start to fall off, which isn’t doing a lot to spur confidence.”