Late last week, US domestic flat rolled steelmakers rolled out a flurry of price increase announcements, with sheet producers announcing new minimum base price for HRC that spanned from $45.00-$47.50 cwt. ($992-$1,047/mt or $900-$950/nt), depending on the mill.
At the time, HSS sources said they “wouldn’t be the least bit surprised” if HSS tubing mills followed suit.
And while Bull Moose Tube did put out a $2.50 cwt. ($55/mt or $50/nt) announcement shortly after the flats mills announced, as of today, other domestic tube mills have remained silent. Sources have also said that despite the announcement, that Bull Moose is still quoting inquiries at pre-price increase levels.
Sources have called the increase a “non-event.”
As such, current prices are in line with where they were a week ago. As of today, Wednesday June 22, HSS spot market prices are still being heard at approximately $75 cwt. ($1,653/mt or $1,500/nt), FOB mill, although similar to last week, deals as much as $3.00 cwt. ($66/mt or $60/nt) below this level have been heard for large-tonnage orders.