The
US domestic hollow structural sections (HSS)
tubing market has been mostly unchanged since our last report two weeks ago, but rumors that
US scrap prices could settle down by as much as $20/mt in most regions next month could be cause for concern. Flats mills have already rolled out two failed price increase announcements and if scrap prices start to slip, buyers are concerned this could place downward pricing pressure on hot rolled coil (HRC.) If HRC starts to slip, sources close to SteelOrbis say they are equally concerned this could cause some softening within their market as well.
For now,
US domestic prices for HSS
tubing are sideways since our last report two weeks ago and continue to hold at $37.50-$38.50 cwt. ($827-$849/mt or $750-$770/nt), ex-Midwest mill. As in previous weeks, inventories are still being closely managed and interest in taking on position tons is trending weak.