Still-soft US HRC prices are continuing to plague price stability within the US domestic hollow structural sections tubing (HSS) market. Two weeks ago, SteelOrbis reported that HSS spot market prices were trending between $45-$46 cwt. ($992-$1,014/mt or $900-$920/nt), ex-mill, with lead times hovering at 2-3 weeks.
Prices have not changed since then, but this week’s softness within the US HRC market is still placing downward pressure on US domestic HSS prices. Some buyers are reporting deals being available based on tonnage, and as such, service centers have been amply willing to draw down their inventories substantially with plans to restock once they’re sure the market has bottomed.
Current US domestic HSS prices are down substantially from their July 2018 peak of $59.50 cwt. ($1,311/mt or $1,190/nt), ex-mill. It’s also worth noting that in 2018, before Section 232 was announced, US HSS prices were reported at approximately $53.00 cwt. ($1,168/mt or $1,060/nt), ex-mill.