Sources tell SteelOrbis that the current spot market price for US HSS tubing is now at $71.50 cwt. ($1,576/mt or $1,430/nt) FOB mill from major mills, compared to $75 cwt. ($1,653/mt or $1,500/nt), FOB mill three weeks ago. Additionally, smaller mills are reportedly discounting below that level.
The price decline is attributec to softness in the US HRC market, and as such, further downward revisions are expected in the coming weeks.