Spot market prices within the US hollow structural sections tubing market have slipped since our last report two weeks ago, with prices softening by $1.00 cwt. ($22/mt or $20/nt) on the bottom end and by $2.00 cwt. ($44/mt or $40/nt) on the top end from levels recorded in the early days of the month.
Today’s range, which is now being heard at $55-$56 cwt. ($1,213-$1,235/mt or $1,100-$1,120/nt), ex-mill, is reflective of soft US HRC prices and lessened order activity. Sources close to SteelOrbis say that unless they “absolutely need to buy” they are holding off, because they believe that if US HRC prices continue to slide downward, as SteelOrbis is predicting, that US HSS prices could soften further as well.
The end-of-year holiday season slowdown is also having an impact on ex-mill pricing, sources note, adding that activity this week is especially sluggish as many within the US have taken the week off to celebrate Thanksgiving.