Sources close to SteelOrbis have indicated that spot market prices for US domestic HSS tubing are now being heard at approximately $79 cwt. ($1,742/mt or $1,580/nt), FOB mill.
“The major mills are holding pretty firm at that level, although they’re discounting by about $1.00 cwt. ($22/mt or $20/nt) for large tonnage orders,” a source said. “Some of the smaller mills are discounting up to $4.00 cwt. ($88/mt or $80/nt) below that, but for the most part, $79 cwt. is the number.”
It’s also believed that another price increase is forthcoming, especially due to the fact that HRC prices are still climbing.
“There is a lot of chatter about another increase as soon as the end of this week. The potential increase amount is uncertain and there is a lot of speculation as to whether [the announcement] will come out before Christmas or not. If the flat rolled mills announce before Christmas it is pretty certain the HSS mills will as well.”