Last week, SteelOrbis reported that spot market pricing for US domestic HSS tubing was still holding at approximately $46 cwt. ($1,014/mt or $920/nt), although deals were available for large volume transactions.
At that time, it was predicted that prices would soon begin to slide. This week, the situation within the US HSS market is largely the same, although the more-than-expected drop in September scrap prices is likely to push downward pressure on the market.
Market players also continue to report additional deal making that’s been taking place in the US HRC market. This, coupled with soft scrap pricing, is likely to lead to downward revisions for HSS tubing before the end of the month.