SteelOrbis sources have confirmed that US domestic HSS spot market prices have softened in the past 7 days, from approximately $40 cwt. ($882/mt or $800/nt), to $38.50 cwt. ($849/mt or $770/nt), ex-mill.
Sources say that the market as a whole is still “relatively soft,” adding that the lone positive sign in the market, are this month’s the sideways to “slightly up” scrap prices the South and Southeast.
“There’s rumors that the flats mills may try for a second increase, and if that happens, we think the tube mills will announce too,” a source said.