Spot market prices for US domestic HSS tubing are still trending at approximately $84 cwt. ($1,852/mt or $1,680/nt), FOB mill, reflecting no chance since our last report 2 weeks ago. Sources close to SteelOrbis have confirmed that discounts are available based on tonnage, adding that if US HRC prices continue to trend downward, that “additional erosion of HSS prices are all but guaranteed.”
Sources have also said that market wide skepticism that current price points will hold has many service centers “sitting back on the sidelines. No one is placing much tonnage for stock.”