Sources close to SteelOrbis have confirmed that spot market prices for US domestic hollow structural sections (HSS) tubing are still being heard at approximately $73.50 cwt. ($1,620/mt or $1,470/nt), FOB mill, although deals up to $5.00 cwt. ($110/mt or $100/nt) continue to be heard within the marketplace.
“The mills are going to wait as long as possible before they move their book prices,” a source said. “The official number is still $73.50 cwt. but none of the large service center groups are paying that, but the guys who have smaller accounts are still paying it. At the same time, mills’ order books have slowed down and [HSS availability] continues to improve so it’s just a matter of time before an official price reduction is announced.”