Is another price increase announcement pending for US HRC?

Monday, 01 June 2015 20:42:27 (GMT+3)   |   San Diego
       

The recent price increase from US domestic flats mills hasn’t really gained any traction, but sources close to SteelOrbis have confirmed that the announcement did seem to create a firm bottom.  The average spot price for US domestic HRC remains in the approximate range of $23.00-$24.00 cwt. ($507-$529/mt or $460-$480/nt) ex-Midwest mill, but there have been a growing number of rumors that US mills may roll out another price increase as a means of getting the last one to gain acceptance.

 Cwt.Metric Ton (mt)Net ton (nt)Change from last week
US ex-mill spot price     
     
HRC$23-$24$507-$529$460-$480neutral
     
Turkey*    
HRC$20-$22$441-$485$400-$440neutral
     
Australia*    
HRC$20-$22$441-$485$400-$440neutral
     
Brazil*    
HRC$20-$22$441-$485$400-$440neutral
     
*DDP loaded truck US Gulf Coast ports 

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