The previously seen price erosion within the
US domestic hollow structural sections (HSS)
tubing market has finally leveled off, as the late-October ex-Midwest mill spot price range of $46.00-$47.00 cwt. ($1,014-$1,036/mt or $920-$940/nt) continues to hold. Although some are concerned about two months of back-to-back drops in
US domestic scrap prices, flats mills are still “holding their own.” And for the most part, many believe that HRC will trend relatively sideways through the end of the year, which would bode well for HSS spot prices.
In terms of offshore offers, Korean offers have remained lateral since our last report two weeks ago, still in the approximate range of $37.50-$38.50 cwt. ($827-$849/mt or $750-$770/nt) DDP loaded truck
US Gulf coast ports; offers from Turkish mills, however, have declined by approximately $2.50 cwt. ($55/mt or $50/nt) since our last report, bringing Turkish offers to a range that matches their Korean counterparts.