A week ago, SteelOrbis reported that the average spot market price for US domestic hollow structural sections (HSS) tubing had softened by $3.00 cwt. ($66/mt or $60/nt) week-over-week to an average transaction price of $59.50 cwt. ($1,312/mt or $1,190/nt) FOB mill.
Sources had indicated that the softness in HSS pricing was directly attributed to down trending prices in the flat rolled steel market.
This week, HSS tubing prices have softened by an additional $3.00 cwt. ($66/mt or $60/nt) to an average transaction price of $56.50 cwt. ($1,246/mt or $1,130/nt), FOB mill. Sources have also confirmed that some mills are offering up to $4.00 cwt. ($88/mt or $100/nt) below the most commonly heard price based on volume. Sources have also said that mills are keeping a very close watch on the domestic HRC market, adding that should HRC prices continue to rise, they expect the tube mills will be swift in announcing a $5.00 cwt. ($111/mt or $100/nt) price increase on HSS tubing.