SteelOrbis has confirmed that spot market prices for US domestic hollow structural sections (HSS) tubing are still trending in the range of $107-$108 cwt. ($2,359-$2,381/mt or $2,140-$2,160/nt), FOB mill, which is consistent with price points heard for the past 6 weeks.
Tube market sources say that falling HRC prices are bound to put pressure on the market "sooner than later."
"Everyone is aware of what flat rolled is doing, and while the tube mills have been reluctant to drop their price, we all think that's coming," a source said. "At this point mills' order books are pretty solid through June due to the 'March madness' buying that took place after Russia invaded Ukraine and steel prices started shooting up."
A second source agrees that current prices could "potentially hold steady into next month."
"I don't think the mills are in any rush to drop their prices and give away the price advantage they were able to achieve in March," he said. "Until they get their shipments out the door and their bookings start to open up, I think prices are going to stay put.”