Current pricing for US domestic hot rolled coil continues to trend at $30.50-$31.50 cwt. ($672-$694/mt or $610-$630/nt), ex-mill, although as in previous weeks, deals up to $1.00 cwt. ($22/mt or $20/mt) below this range continue to be available for volume buyers.
Lead times, which have previously been reported at 3 to 6 weeks, are also steady, sources note. Texas-based sources say they still believe that inventory levels are healthier than are currently being reported, adding that this has helped keep prices and lead times stable despite AK Steel’s recent attempt to push prices higher.
Further, it’s believed that US domestic scrap prices could once again trend sideways in October, which could help keep US HRC prices stable in the upcoming weeks.
Looking offshore, import HRC spot market prices in the US domestic market from Egypt and Serbia are still being heard the range of $31-$32 cwt ($683-$705/mt or $620-$640/nt), DDP loaded truck in US Gulf coast ports, but as with last week, these price points are unattractive to US-based buyers due to their close proximity to US domestic price points.