Spot market prices for US domestic HSS tubing have revised downward since our last report two weeks ago.
Current prices are being heard at approximately $75 cwt. ($1,653/mt or $1,500/nt), FOB mill, against $81.50 cwt. ($1,797/mt or $1,630/nt), FOB mill during the last week of May. Prices are down by approximately $9 cwt. ($198/mt or $180/nt) since May 11.
Sources have also confirmed that deals as much as $3.00 cwt. ($66/mt or $60/nt) below this level have been heard for large-tonnage orders.
“Pricing is soft and mills will discount based on volume,” a source said. “Demand is lackluster and anyone who doesn’t need steel now is sitting back, watching the market, and waiting to see how this plays out.”