Although prices within the
US domestic hollow structural sections (HSS) market have held steady since our last report two weeks ago, still at approximately $47.00-$48.00 cwt. ($1,036-$1,058/mt or $940-$960/nt) ex-Midwest mills, sources close to SteelOrbis say domestic mills are pushing to book orders at the top of that range due to “alleged” higher prices for hot rolled coil. Service centers and distribution centers, however, say they’re “not drinking the Kool-aid,” and are well aware that prices for
US domestic flats products are also trending flat. According to sources, the
tubing market is flat to soft right now, and mills are willing to make deals with anyone “who is going to throw a bunch of tons at their order books.”
In terms of offshore offers, prices from
Korea have also trended sideways in the past two weeks, at approximately $37.50-$38.50 cwt. ($827-$849/mt or $750-$770/nt) DDP loaded truck
US Gulf coast ports, while offers from Turkish mills continue to trend about $2.50 cwt. ($55/mt or $50/nt) higher. Trader sources say most people are still pretty wary about booking import tonnages, and will likely hold off until lead times span out past the New Year as a means of avoiding additional year-end inventory taxes.