The most commonly heard spot price transaction range for
US domestic hollow structural sections (HSS)
tubing has softened by approximately $1.00 cwt. ($22/mt or $20/nt) on the low end since our last report two weeks ago, which brings the current average transaction range to $42-$44 cwt. ($926-$970/mt or $840-$880/nt), ex-Midwest mill, but sources close to SteelOrbis are reporting that mills are open to negotiating buys slightly below that range “for buyers who ask and meet the right tonnage requirements.”
“Prices are definitely soft,” another source added. “I wouldn’t be surprised if we saw another move-down in the near future.”
The downtrend within the
US HSS spot market is mimicking a similar downtrend that’s taking place with
US domestic hot rolled coil (HRC).
US HRC prices have been sloping slowly downward since early-August; many within the
US flat rolled steel market believe that domestic mills may try to push for a price increase after the Labor Day holiday as a means of setting a pricing floor.