The most commonly heard spot price transaction range for
US domestic hollow structural sections (HSS)
tubing has remained stable since our last report two weeks ago, at $46.50-$48.50 cwt. ($1025-$1069/mt or $930-$970/nt), ex-mill.
Sources close to SteelOrbis say the stabilization comes after
US domestic flat rolled steel mills announced a round of price increases.
“The bleeding seems to have stopped,” a source said. “The announcement hasn’t pushed HRC prices up, but it has prevented flat rolled prices from falling further.”
Demand continues to be steady, another source said, adding that all
US steel market segments continue to wait for the results of the Section 232 investigation findings. Earlier today, it was announced that the findings, which were earlier anticipated to come as earlier this week, have been delayed due to pushback from the
US Treasury and the
US Department of Defense regarding the scope of the investigation, including which products will be included.