Spot pricing within the
US domestic hollow structural sections (HSS) market may have held sideways since our last report a week ago, but buyers say the current range is flexible. “Prices are soft,” according to one Midwest-based sourced. “Everyone is being very cautious right now and no one is buying anything unless they absolutely need it, because just about everyone suspects prices are going to come down and no one wants to get left holding the bag.”
The reasoning behind this is twofold:
US domestic hot rolled coil (HRC) spot prices have been inching downward since the start of the year and
US scrap prices are poised to settle down between $30-$40/lt for February buys. If HRC continues to soften and scrap does indeed take a tumble, HSS may be soon to follow. But for now the current spot price range has held at approximately $46.00-$47.00 cwt. ($1,014-$1,036/mt or $920-$940/nt), ex-Midwest mill, although that range is “very flexible” based on the order size. Offshore prices from
Korea and
Turkey, previously at $37.50-$38.50 cwt. ($827-$849/mt or $750-$770/nt), both DDP loaded truck
US Gulf coast ports, haven’t moved.