The most commonly heard spot price transaction range for
US domestic hollow structural sections (HSS)
tubing has maintained a consistent downtrend since our last report two weeks ago.
Although the most commonly heard spot price transaction range is down by $0.50 cwt. ($11/mt or $10/nt) on the low end and by $1.50 cwt. ($33/mt or $30/nt) on the high end since our last report, which brings the current range to $43.00-$44.00 cwt. ($948-$970/mt or $860-$880/nt), ex-Midwest mill, some sources close to SteelOrbis have reported little difficulty in terms of placing orders at the $42.00 cwt. ($926/mt or $840/nt), level.
Many within the market are also questioning how long the downtrend will last.
“HSS prices went up disproportionately to the hot rolled increases so what’s going on now isn’t all that surprising,” one source said. “The question we all have, though, is where things will land when this is all over.”
And despite today’s announcement by the
US International Trade Commission (USITC), which indicated an affirmative ruling in the trade case against imports of heavy walled rectangular welded carbon steel pipes and tubes from Korea, Mexico and Turkey, SteelOrbis sources say they do not believe the USITC ruling will have any short term impact on
US market conditions.