Prices for domestically produced structural tubing in the United States strengthened after a persistently higher Fastmarkets daily hot-rolled coil index convinced more buyers that tube mill price increases were legitimate.
Fastmarkets' weekly price assessment for steel hollow sections ASTM A500 Grade B domestic, fob mill US climbed to $880-910 per short ton ($44-45.50 per hundredweight) on Thursday December 19 from $870-900 per ton on December 12. The rising price demonstrates that two mill increases totaling $80 per ton in the fall were continuing to cement themselves in transaction prices. Market participants said they were watching for a potential third round of increases initiated by one of the two market leaders - either Atlas Tube or Nucor Tubular Products (NTP).Fastmarkets' steel hot-rolled coil index, fob mill US was calculated at $28.77 per cwt on Thursday. The index has gained...