US domestic HRC market holds steady, for now

Although many within the US domestic hot rolled coil (HRC) market think there could be additional price corrections before the market hits bottom, current spot market prices have stalled due to the holiday week.  Most buyers and sellers will not return to the office until after the first of the year, and while some will be back at work starting early next week, activity, inquiries and order placement are expected to trend quiet until after the first of year.

For now, the most commonly reported spot price transaction range for US domestic HRC has held at $30-$31 cwt. ($661-$671/mt or $600-$620/nt), ex-Midwest mill, while offshore futures offers continue trend sideways as well.

	Cwt.	Metric Ton (mt)	Net ton (nt)	Change from last week
US domestic
Ex-Midwest mill
HRC	$30-$31	$661-$684	$600-$620	neutral
Turkey*
HRC	$27.50-$28.50	$606-$628	$550-$570	neutral
Japan*
HRC	$27-$28	$595-$617	$540-$560	neutral
Australia*
HRC	$28-$29	$617-$639	$560-$580	neutral but flexible
Brazil*
HRC	$28-$29	$639-$661	$580-$600	neutral but flexible
*DDP loaded truck US Gulf Coast ports