The pending $1.00 cwt. ($22/mt or $20/nt) price increase for
US domestic hollow structural sections (HSS) might still be a few days out, but if
US domestic hot rolled coil and scrap prices stay firm, the increase will likely gain traction. HRC prices have not wavered in the past two weeks and Midwest scrap prices have continued to climb. SteelOrbis sources have indicated a belief that this trend will likely hold through the New Year, and if price points within these market segments once again tick upward, HSS spot prices are sure to follow. For now, the most commonly reported transaction range has held at $47.50-$48.50 cwt. ($1,047-$1,069/mt or $950-$970/nt), ex-Midwest mill, reflecting no change in the past two weeks.
Meanwhile, trader sources have indicated that a few import buys have been made from Korean and Turkish mills, who are still offering in the approximate range of $37.00-$38.00 cwt. ($816-$838/mt or $740-$760/nt) DDP loaded truck in
US Gulf ports. If domestic HSS pricing continues to hold at current levels more and more people could turn their sights offshore, especially in that the current price gap between
US and import
tubing continues to raise eyebrows.