Prices within the
US domestic hot rolled coil (HRC) market may have experienced some correction since the start of 2015, but sources close to SteelOrbis say that
US domestic hollow structural sections (HSS) prices continue to remain neutral. What is certain, however, is that mills’ December attempt to push through a $2.00 cwt. ($44/mt or $40/nt) price increase is, in fact, dead. “It officially died on Monday,” according to one Midwest-based source, noting that while most mills’ had announced an immediate increase, Bull Moose Tube Company said they’d delay implementation for 30 days; when the deadline finally arrived, he said, the price uptick never happened.
Order activity and inquires have picked up into the New Year, as the Q4 moratorium on stock buys have been lifted. Those who were thinning inventories into the close of 2014 have once again reentered the market, and while market conditions aren’t exactly robust, there has been a noticeable uptick in activity. The million dollar question, though, is whether the current spot market price range of $46.00-$47.00 cwt. ($1,014-$1,036/mt or $920-$940/nt), ex-Midwest mill, will continue to hold into February.
As for import pricing, previously seen offer prices from Turkish and Korean mills has also trended sideways since our last report two weeks ago, still at at $37.50-$38.50 cwt. ($827-$849/mt or $750-$770/nt), both DDP loaded truck
US Gulf coast ports, with trader sources describing activity as trending at steady, but unexciting.