As many in the US domestic hollow structural section (HSS) market expected, the $1.00 cwt. ($22/mt or $20/nt) price increase announced two weeks ago has been fully absorbed. Spot prices are now in the range of $48.50-$49.50 ($1,069-$1,091/mt or $970-$990/nt), ex-Midwest mill, however activity has tapered slightly due to the holidays. Once business resumes in the New Year, sources expect demand to remain steady, although prices will likely rise along with the flat-rolled price increases announced last week.
On the other hand, prices for import HSS from Korea and Turkey are unchanged in the past week and continue to be offered in the approximate range of $37.00-$38.00 cwt. ($816-$838/mt or $740-$760/nt) DDP loaded truck in US Gulf ports. As in previous weeks, the current gap between US and import tubing prices is starting to garner quite a bit of attention, and interest in booking imports has continued to gain traction.