Spot market prices within the US hollow structural sections tubing market are still trending soft, with sources noting that increased mill competition for orders is placing downward pressure on prices.
Current prices are down by $0.50 cwt. ($11/mt or $10/nt) on the bottom end from levels seen a week ago, which brings the current average transaction range to $54.50-$56.00 cwt ($1,201-$1,235/mt or $1,090-$1,120/nt), ex-mill.
In contrast, in late November 2017, SteelOrbis reported that the average spot market price range for US HSS tubing was trending at $48-$49 cwt. ($1,058-$1,080/mt or $960-$980/nt), ex-mill.
Sources close to SteelOrbis have indicated that current market softness is tied to “flexible” US HRC pricing along with lackluster order placement, which is largely typical during the final weeks of the year. It’s believed that prices will remain flexible throughout the rest of 2018.