In the early part of April, few, if anyone believed US domestic hot rolled coil (HRC) producers’ second price increase would actually gain acceptance. This week, however, everyone is singing a different tune. In the past seven days, the average spot price transaction range has in fact held steady, with the current range still trending at $33.00-$35.00 cwt. ($728-$772/mt or $660-$700/nt) ex-Midwest mill. Mill order books are healthy, according to industry insiders, and strong-sideways scrap prices are keeping raw materials costs firm. As with last week, the best deals are only available to level-A customers who are looking to book large orders.
In terms of offshore offer prices from Mexico and Russia, ranges from both countries have held at neutral in the past seven days. Trader sources, however, say higher US prices could mean an increase for Mexican HRC could be on the horizon.
| Cwt. | Metric Ton (mt) | Net ton (nt) | Change from last week | |
| US domestic | ||||
| Ex-Midwest mill | ||||
| HRC | $33.00-$35.00 | $728-$772 | $660-$700 | up $1.00 cwt. on high end |
| Mexico** | ||||
| HRC | $31.00-$32.00 | $684-$706 | $620-$640 | neutral |
| Russia* | ||||
| curently arriving HRC | $29.00-$30.00 | $595-$617 | $540-$560 | neutral |
| new bookings HRC | $31.00-$32.00 | $684-$706 | $620-$640 | neutral |
| *DDP loaded truck in US Gulf ports / arriving now | ||||
| **DDP loaded truck delivered into Houston | ||||