US domestic HRC prices have remained flat since our last report a week ago, as market sources continue to report that the average transaction range is still hovering at $29.00-$29.50 cwt. ($639-$650/mt or $580-$590/nt) at the mill. Deep discounts, which had previously been reserved for volume buyers, seem to be diminishing.
Sources believe that this is due to mills wanting to get prices up as much as they can before contract negotiation season begins. Current lead times are still trending between 4-5 weeks, and sources continue to have concerns about the state of the market, especially in light of the news that US Steel will be laying off 200 steel workers, “temporarily,” until market conditions show improvement.