The most commonly heard spot market price for US domestic hollow structural sections (HSS) tubing has firmed by $1.50 cwt. ($33/mt or $30/nt) since our last report two weeks ago; the move comes on the heels of a $1.50 cwt. ($33/mt or $30/nt) price increase that was announced by domestic tube mills.
As such, today’s most commonly heard spot price transaction range has risen to $48-$50 cwt. ($1,058-$1,102/mt or $960-$1,000/nt), ex-mill.
The increase, sources note, was rolled out in response to a similar price increase announcement by US domestic flat rolled steel mills.
“The [tube] mills are still bullish about another increase,” said one source. “They believe that regardless of what happens with the 232 investigation, flat rolled mills will announce another increase. All this stuff is about clear as mud. The increases do not have anything to do with demand.”