Last week, SteelOrbis reported that US domestic hollow structural section (HSS) tubing mills were doing their best to keep “official” spot market prices in the range of $48.00-$50.00 cwt. ($1,058-$1,102/mt or $960-$1,000/nt), ex-mill, but that deals up to $2.00 cwt. ($44/mt or $40/nt) below that range are available to select customers based on volume.
This week, an uptick in deal making has led to an official downward price revision.
Current prices are now trending at $47.00-$48.00 cwt. ($1,036-$1,058/mt or $940-$960/nt), ex-mill.
Soft HRC prices coupled with this month’s slide in domestic scrap prices are among the leading factors in the reduction.