Although the most commonly reported spot price transaction range for
US domestic hollow structural sections (HSS) have remained sideways since our last report two weeks ago, still at approximately $47.00-$48.00 cwt. ($1,036-$1,058/mt or $940-$960/nt) ex-Midwest mill, sources close to SteelOrbis say that if
US flats mills try to push through an anticipated $1.00 cwt. ($22/mt or $20/nt) price increase on hot rolled coil (HRC) in the next month or two, HSS mills may also try to hop on the price increase train. However, producers will likely have a difficult time gaining market acceptance for any sort of uptrend due to an abundance of supply and lackluster order activity.
Meanwhile, futures prices from
Korea and
Turkey have also remained on par with levels seen two weeks ago, still at approximately $37.50-$38.50 cwt. ($827-$849/mt or $750-$770/nt) DDP loaded truck
US Gulf coast ports, although some Turkish mills are quoting up to $2.50 cwt. ($55/mt or $50/nt) higher. Either way, trader sources say they’re not looking to book anything until mills can guarantee a post-December 31 arrival date so as to avoid paying end-of-year-inventory-taxes on those tonnages.