Have US HRC prices firmed since the price increase announcements?

Last week, SteelOrbis predicted that flat rolled steel mills were on the verge of announcing another price increase announcement.

 

This week, Nucor Sheet Mill Group, AK Steel and NLMK USA announced they would be raising prices on all flat rolled steel products, including HRC, by a minimum of $1.50 cwt. ($33/mt or $30/nt), effective immediately.

 

While none of the mills established new, minimum base-pricing for US HRC, so far current spot market prices remain unchanged week-over-week.  The most commonly heard spot market price range for US domestic hot rolled coil continues to trend at $31.00-$32.50 cwt. ($683-$717/mt or $620-$650/nt), ex-Midwest mill.

 

“A lot of us feel pretty strongly that the increase is going to stick,” one source said. “The pipe and tube mills are rocking and rolling and that’s given a lot of life back to the flats mills.”