The most commonly heard spot market price range for
US domestic hot rolled coil has continued to firm since our last report a week ago. Today, the most commonly heard spot market price transaction range has inched up another $0.50 cwt. ($11/mt or $10/nt), which brings the current average transaction range to $30.50-$32.50 cwt. ($672-$705/mt or $610-$640/nt), ex-Midwest mill.
The top end of the price range brings
US HRC spot market price in-line with the new, minimum base price that was set by ArcelorMittal USA (AMUSA) in their most recent price increase announcement.
Sources close to SteelOrbis say that lead times continue to trend between four and six weeks.
Increased activity from
US domestic pipe mills, upticks in
US domestic scrap prices and the decreased availability of imports, are credited with helping push
US HRC prices higher.
At current, it is not believed that
US flat rolled steel mills are readying a sixth price increase announcement, however, should scrap prices firm again during the February buy-cycle (although the current expectation is that February scrap prices will trend soft sideways), another
flats price increase could be on the horizon.