The most commonly heard spot market price range for US domestic hot rolled coil continues to be heard at $31.00-$32.50 cwt. ($683-$717/mt or $620-$650/nt), ex-Midwest mill; this marks the second week in a row that US HRC prices have remained stable.
But, as with last week, some buyers continue to report that deals slightly below the most commonly heard transaction range are available for larger-tonnage bookings. Lead times are also unchanged week-on-week, with most buyers noting that while mills are quoting four to six weeks, some orders are being delivered “sooner that what the mills initially quoted.”
Trader sources continue to report that import tonnages “aren’t really much of a factor.” The most recent import license data from the US Department of Commerce indicates that for the month of January, the US imported 136,796 mt of HRC into the US; 72,725 mt came from Canada, while 17,014 mt was shipped to the US from Mexico.
January 2017 HRC import tonnages reflect a 57.94 percent dip from January 2016, when the US imported 325,191 mt.