The most commonly reported spot price transaction range for
US domestic hollow structural sections (HSS)
tubing has ticked down by $1.00 cwt. ($22/mt or $20/nt) since our last report a week ago, and many are wondering if additional corrections are on the horizon. HSS buyers say they’re keeping a close watch on the
US hot rolled coil (HRC) market, which has endured round after round of downticks since the first of the year. There is also concern that if
US domestic scrap prices do experience a marked decline for February buys, as many believe it will, that this could trickle downhill to HSS.
Sources say activity “isn’t bad” and demand is decent; as such, “price corrections are more about what’s going on elsewhere in the market.” Other sources confirm that while the current range is now trending at $45.00-$46.00 cwt. ($992-$1,014/mt or $900-$920/nt) ex-Midwest mill, buyers looking to book hefty tonnages can score deals below that range. In terms of imports, pricing from
Korea and Turkey continue to hold at approximately $37.50-$38.50 cwt. ($827-$849/mt or $750-$770/nt) both DDP loaded truck
US Gulf coast ports, but considering the current volatility within the
US domestic market, interest is trending weak.