US domestic flats prices firm despite recent mill increases

Monday, 23 December 2013 01:02:07 (GMT+3)   |   San Diego
       

US domestic hot rolled coil (HRC) and cold rolled coil (CRC) prices are flat this week, despite price increase announcements by US Steel and California Steel Industries (CSI) in the last seven days.

US Steel rolled out an immediate price increase for flat rolled products spot orders by a minimum of $1.00 cwt. ($22/mt or $20/nt) applies to all new orders, while CSI increased HRC by a minimum of $1.50 cwt. ($33.00/mt or $30.00/nt) ex-mill and CRC by $2.00 cwt. ($44.00/mt or $40/nt) ex-mill for February orders.

Even though US Steel’s increase was for all new orders, HRC spot prices have remained flat in the general range of $33.00-$34.00 cwt. ($720-$750/mt or $660-$680/nt) ex-mill and CRC spot prices are still approximately $38.00-$39.00 cwt. ($837-$859/mt or $768-$780/nt) ex-mill, although sources expect mills to get a little bit more aggressive with the increases early in the first quarter.  Attractive import pricing and slow purchasing activity over the holidays have lessened the demand for domestic orders.

 

As for imports, Russian HRC offers bounced back up $2.00 cwt. ($44/mt or $40/nt) to approximately $29.00-$30.00 cwt. ($639-$661/mt or $580-$600/nt) DDP loaded truck into US Gulf ports.  However, “those offers came and went,” said one source about that the lower prices that only lasted about three weeks. Other import prices remained neutral this week. Chinese CRC offers, meanwhile, remained steady at $33.50-$34.50 cwt. ($739-$761/mt or $670-$690/nt) DDP loaded truck in US Gulf ports, but sources expect a softening in the New Year.

  Cwt. Metric Ton (mt) Net ton (nt) Change from last week
US domestic        
Ex-Midwest mill        
HRC $33.00 -$34.00 $720-$750 $660-$680 neutral 
CRC $38.00-$39.00 $837-$859 $768-$780 neutral 
         
Mexico**        
HRC $30.00-$31.00 $661-$683 $600-$620 neutral
         
China*        
CRC $33.50-$34.50 $739-$761 $670-$690 neutral
         
Russia*        
HRC $29.00-$30.00  $595-$617 $540-$560 ↑$2.00 cwt.
         
India*        
CRC $35.50-$36.50 $783-$805 $710-$730 neutral
*DDP loaded truck in US Gulf ports
*DDP loaded truck delivered into Houston

Similar articles

US sheet prices tick up modestly ahead of Easter weekend

28 Mar | Scrap & Raw Materials

Flat steel prices in local Taiwanese market - week 13, 2024

28 Mar | Flats and Slab

Stocks of main finished steel products in China down 0.6 percent in mid-March

25 Mar | Steel News

US flats source believe HRC prices are “at or near the bottom”

22 Mar | Flats and Slab

Romania’s sole flats mill cuts HRC prices, raises HDG and PPGI prices

22 Mar | Flats and Slab

Flat steel prices in local Taiwanese market - week 12, 2024

21 Mar | Flats and Slab

US HRC prices still ticking downward, prices expected to bottom this month

15 Mar | Flats and Slab

Flat steel prices in local Taiwanese market - week 11, 2024

14 Mar | Flats and Slab

Stocks of main finished steel products in China up 4.0 percent in early March

14 Mar | Steel News

Baosteel keeps local HRC prices stable for April

12 Mar | Flats and Slab