The most commonly reported spot price transaction range for US domestic hollow structural sections (HSS) may have held steady in the past two weeks, but if additional price firming takes place for domestic hot rolled coil (HRC) producers, this could soon change. Flats mills rolled out an approximate $2.00-$3.00 cwt. ($44-$66/mt or $40-$60/nt) increase in the latter part of March, and although it did not initially gain acceptance, spot prices for flats have ticked up about $1.50 cwt. ($33/mt or $30/nt) in the past seven days. This, according to SteelOrbis sources, is largely tied to a “complete 180” in domestic scrap prices, which were suspected to dip again for April buys. Now that scrap prices are starting to firm, it’s believed HRC producers may announce an additional $1.00-$2.00 cwt. ($22-$44/mt or $20-$40/nt) price increase in the near future. If that does happen, the current ex-Midwest mill HSS spot price range of $46.00-$47.00 cwt. ($1,014-$1,036/mt or $920-$940/nt), along with deals as much as $1.50 cwt. ($33/mt or $30/nt) lower on larger orders, could soon be a thing of the past.
Meanwhile, import HSS offer prices from Korea and Turkey have continued to hold in the approximate range of $37.50-$38.50 cwt. ($827-$849/mt or $750-$770/nt), DDP loaded truck US Gulf coast ports, although interest in booking futures remains weak.