Got a chance to study the break a little.
First, to be clear, the weld did not fail- the steel of the 1/2 hex failed.
The weld probably caused a stressor in the 1/2 hex steel, as it fractured right next to the weld.
Tried to take some detailed pics, but not very successful.
In person, it is obvious that one half of the hex steel failed sometime ago, and hammered on itself repeatedly, producing a very shiny, almost peened surface. (the upper portion of the hex in these pics)
The lower half is definitely a much grainier surface, so I think the top half had been broken for a long time, and the lower half letting go caused the sudden collapse.
There was no rust anywhere, but this is Arizona.