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That’s just a mind-bending anachro-number, what does it mean?! Nearly 6/10ths of an inch...
you just say 'fifty eight thou'. american engineering types still use thousandths of an inch as a reasonably precise unit of measurement for things in areas like machining on lathes and so on. confusingly, they call ten-thousandths of an inch 'tenths'.
roughly 40 thou is a millimetre, so yeah 58 thou is 1.5mm near enough
Guess some framebuilders might have stainless in stock in the same wall thickness you'd build a stem from but I can't really see why.
I use tubing with a .058" wall thickness to build steerer clamps for stems so its a lot heavier than frame tubing.