Demand for
US domestic hollow structural sections (HSS)
tubing continues to hold up, but that’s not to say that spot market prices haven’t been immune to softening.
The most commonly reported spot market transaction range has ticked down by $1.00 cwt. ($22/mt or $20/nt) since our last report a week ago, which brings the current average range to $41-$43 cwt. ($904-$926/mt or $820-$840/nt), ex-Midwest mill. Multiple sources close to SteelOrbis cite falling prices within the
US domestic hot rolled coil (HRC) market as being the cause of price-softening for HSS
tubing.
“There has been no immunity [from things going on in the HRC market.] Prices just went down $1.00 cwt. and they should have gone down more. We think there will still be more [corrections] to come,” one source said, adding that while demand remains stable, it’s “steady without anything crazy.”