US domestic flats producers rolled out back-to-back price increase announcements in the last week of March and first week of April, which have now spilled over into the US domestic hollow structural sections (HSS) market. Last week, HSS producers announced a $2.00 cwt. ($44/mt or $40/nt) price increase announcement, which has already started to gain acceptance. The most commonly reported spot price transaction range has ticked up approximately $1.50 cwt. ($33/mt or $30/nt) since our last report two weeks ago, bringing the average spot price to $47.50-$48.50 cwt. ($1,047-$1,069/mt or $950-$970/nt) ex-mill, although SteelOrbis sources say anyone who is looking to book significant tons could negotiate a better price. Current inventories, however, are relatively healthy, as buyers say they “saw the writing on the wall” once flats mills started announcing price increases, and made their purchases beforehand.
In terms of imports, offer prices from Turkey and Korea have held at neutral in the past two weeks, still at approximately $37.50-$38.50 cwt. ($827-$849/mt or $750-$770/nt), DDP loaded truck US Gulf coast ports, but trader sources say they’re well-stocked at the moment and aren’t looking to make any significant buys.