The impact of the increases should become clearer in the weeks ahead, sources told Fastmarkets.
“It’s too early to say what this second [price increase] is going to do, if it’s going to solidify the first or if they’re going to get all of the first and some of the second,” one southern distributor said.
North American steel mills recently announced price increases of $40 per short ton ($2 per hundredweight) for hollow structural sections (HSS) and mechanical tubing. That increase follows an equivalent price change announced in October. Both tube price increases mirror steel substrate price rises.
The result: Fastmarkets’ monthly price assessment for steel welded mechanical tubing ASTM A513, fob mill US rose to $880-900 per ton ($44-45 per cwt) on Tuesday November 12, up from $860-890 per...