Are US HRC prices set to firm?

Order activity, inquiries and lead times for US domestic hot rolled coil (HRC) are mostly unchanged since our last report a week ago, with many sources close to SteelOrbis saying they are doing their best to manage inventory levels.  “Everything is the same,” said one Texas-based source.  “Inventories are still high, lead times are short and there is still plenty of stuff that’s showing up at the docks.”
 
The US domestic market should be poised to see some upward pricing movement,  especially in light of the recent trade case petition, but supply and demand levels will first need to sort themselves out. For now, the most commonly reported spot price transaction range continues to trend in the approximate range of $22-$24 cwt. ($507-529/mt or $460-$480/nt), ex-Midwest mill, reflecting no change in the past week.