The recent HRC price increase announcement by US domestic flats mills may not have pushed prices up, but it has succeeded in preventing further slippage within US domestic spot market prices. The most commonly reported spot price transaction range has remained steady week-on-week, with the average range continuing to trend between $18.50-$19.00 cwt. ($407-$419/mt or $370-$380/nt), ex-Midwest mill.
It should also be noted, however, that many within the US domestic steel industry expected the last two weeks of December to have less-than-exciting order activity, as many will not return to work until Jan. 4, 2016 due to extended holiday vacations. Sources close to SteelOrbis say despite the year-end break, they continue to remain skeptical that mills' price increase will gain acceptance.