The most commonly reported spot price transaction range for
US domestic hollow structural sections (HSS) tubing has come down by $1.00 cwt. ($22/mt or $20/nt) since our last report two weeks ago. This brings the current average transaction range to $38.00-$39.50 cwt. ($838-$871/mt or $760-$790/nt), ex-Midwest mill.
Sources close to SteelOrbis, however, say the recent price increase announcements by
US flat rolled steel mills may have helped to set a pricing floor for
US hot rolled coil (HRC), which would thus help prevent
US HSS prices from slipping further.
It’s also largely speculated that
US HSS mills may roll out a similar price increase by the end of next week.
“There’s a lot of rumors that the tube mills are going to put out a price increase announcement,” one source said. “But unless the flat rolled price increase sticks, the [tube mills] will have a hard time pushing prices higher.”