US structural tubing price inches closer to $50/cwt

The price for hollow structural sections (HSS) in the United States inched closer to $50 per hundredweight ($1,000 per short ton) on Thursday November 5, with sources expecting mills will announce more price hikes shortly due to limited supply and sustained higher substrate costs.

“We’re chasing ghosts, everybody wants steel, everybody needs steel, we don’t have it right now,” a producer said. “You have a lot of people running around looking for steel right now, trying to lock in this lower number [before prices increase].” Fastmarkets assessed the price for steel hollow sections ASTM A500 Grade B domestic, fob mill US at $925-975 per short ton ($46.25-48.75 per cwt) on Thursday, up 2.7% from $900-950 the previous week and its highest level since the price stood at $930-980 per ton on May...

Published

Elizabeth Ramanand

November 06, 2020

23:19 GMT

New York