A previously predicted softening for prices within the
US domestic hollow structural sections (HSS) spot market has materialized. Today, the most commonly heard spot transaction range is in the approximate range of $46.00-$47.00 cwt. ($1,014-$1,036/mt or $920-$940/nt), ex-Midwest mill, reflecting an approximate $1.50 cwt. ($33/mt or $30/nt) dip from levels seen two weeks ago. The downward trend can be directly attributed to happenings within the
US domestic scrap market-- prices in the Ohio Valley ticked down by approximately $15/lt this month and prices for hot rolled coil (HRC) ticked down as well- and the fluctuation in HSS pricing has mirrored their markets. Flats mills have announced a price increase, and some believe HSS producers will soon follow suit- but the question of whether any of that will gain any traction has yet to be seen.
Meanwhile, import HSS offer prices from
Korea and
Turkey are unchanged in the past two weeks, 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. Current interest in booking futures is trending weak, according to SteelOrbis sources, and the trend is largely tied to an abundance of December-booked shipments that are starting to arrive at the docks.