After consecutive weeks of declines, US domestic flat rolled spot prices are holding steady, following price increase announcements from most US mills. While some mills announced an official $1.50-$2.50 cw.t ($33-$55/mt or $30-$50/nt) price increase, others--ArcelorMittal and Severstal North America--issued new base prices instead. Since Severstal's March 19th letter indicating $35.00 cwt. ($772/mt or $700/nt) and $40.50 cwt. ($893/mt or $810/nt) as new base prices on hot rolled coil (HRC) and cold rolled coil (CRC), respectively, sources tell SteelOrbis that other mills have fallen in line, setting official prices at similar levels. The increases have at least temporarily placed a bottom under US spot prices, convincing many buyers that prices aren't going to fall for at least a couple weeks.
Additionally, while HRC spot prices are still between $33.00-$35.00 cwt. ($728-$772/mt or $660-$700/nt) ex-Midwest mill, the steepest discounts--for as much as $1.00-$1.50 cwt. ($22-$33/mt or $20-$30/nt) under the spot range--are becoming increasingly difficult to come by. Whether or not spot prices actually firm will be tied to how disciplined mills are at enforcing the increase, according to service center sources; if mills start cutting prices to garner orders, prices could quickly soften again. Expectedly, because the US domestic market's long-term trend is so uncertain, import activity is extremely quiet, with inquiries and orders minimal.
| Cwt. | Metric Ton (mt) | Net ton (nt) | Change from last week | |
| US domestic | ||||
| HRC | $33.00-$35.00 | $728-$772 | $660-$700 | neutral |
| CRC | $38.00-$40.00 | $838-$882 | $760-$800 | neutral |
| China* | ||||
| CRC | $39.50-$40.50 | $871-$893 | $790-$810 | neutral |
| Mexico** | ||||
| HRC | $33.00-$34.00 | $728-$750 | $660-$680 | neutral |
| CRC | $38.50-$39.50 | $849-$871 | $770-$790 | neutral |
| Russia* | ||||
| HRC | $32.00-$33.00 | $705-$728 | $640-$660 | neutral |
**DDP loaded truck delivered into Houston