US domestic hot rolled coil (HRC) offers dipped again this week, following a modest correction of $0.50 cwt. ($11/mt or $10/nt) last week. Prices fell another $0.50 cwt. this week to the approximate range of $33.00-$34.50 cwt. ($728-$761/mt or $660-$690/nt) ex-mill, which brings the range back to early December levels.
Meanwhile, US domestic cold rolled coil (CRC) offers remained steady in the general range of $38.50-$39.50 cwt. ($849-$871/mt or $770-$790/nt) ex-mill this week. Sources say mills are currently asking for more, but are not getting it and a softening of $0.50 cwt. ($11/mt or $10/nt) is forecasted by month-end.
Import prices to the US also remained neutral. Chinese CRC offers to the US, which have been stable for several weeks, stayed in the approximate range of $33.50-$34.50 cwt. ($739-$761/mt or $670-$690/nt) DDP loaded truck in US Gulf ports. Sources speculate Indian offers remained at the same price from last week--the approximate range of $34.50.00-$35.50 cwt. ($761-$783/mt or $690-$730/nt) DDP loaded truck into US Gulf ports.