For the past several weeks, spot market prices for US domestic HSS tubing have been hovering at an average transaction price level of $44 cwt. ($970/mt to $880/nt), ex-mill, but sources have been certain that a price decrease was imminent, due to lagging orders, falling HRC prices and soft scrap prices.
Today, SteelOrbis learned that spot market prices have shifted downward by $2.00 cwt. ($44/mt or $40/nt), to $42 cwt. ($926/mt or $840/nt), ex-mill. Sources have further noted that falling price points have piqued the interest of buyers, noting that inquiries “have increased in the past week.”