HSS tube mills raise spot market prices due to continued upticks in HRC

Tuesday, 09 April 2024 21:05:19 (GMT+3)   |   San Diego
       

Current average spot market prices for US domestic HSS tubing have revised upward since our last report two weeks ago on the heels of rising HRC prices, sources told SteelOrbis today.

Today's HSS prices are now trending at $64.00 cwt. ($1,411/mt or $1.280/nt), FOB mill, against $59.50 cwt. ($1,312/mt or $1,190/nt), FOB mill, during the last week of March.

“There is some discounting of up to $1.00 cwt. for volume buyers but we expect those deals to disappear fast,” one source told SteelOrbis.

In the past two weeks, HRC prices have increased by approximately $4.00 cwt ($88/mt or $80/nt) to $40.50-$42.50 cwt ($893-$937/mt or $810-$850/nt). Should HRC prices continue to rise, subsequent increase announcments from the tube mills are expected.


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