Offshore hot rolled coil (HRC) producers continue to chase orders within the US domestic market; in the past week, US prices have seen only minor changes with the average transaction range having narrowed on the top end by $1.00 cwt., bringing the current spot price range to approximately $23.00-$24.00 cwt. ($507-$529/mt or $460-$480/nt) ex-Midwest mill.
Futures offers from Turkish and Australian producers have ticked down by $1.00 cwt. in the past week to fall in line with the US mills’ range. SteelOrbis sources continue to report that inventories for HRC are still trending heavy, and are “more stocked than some of the other flats products.” Supply continues to outpace demand, according to another Midwest-based source, which continues to hinder the market.
| Cwt. | Metric Ton (mt) | Net ton (nt) | Change from last week | |
| US domestic | ||||
| Ex-Midwest mill | ||||
| HRC | $23-$24 | $507-$529 | $460-$480 | down $1.00 cwt. on top end |
| Turkey* | ||||
| HRC | $23-$24 | $507-$529 | $460-$480 | down $1.00 cwt. |
| Australia* | ||||
| HRC | $23-$24 | $507-$529 | $460-$480 | down $1.00 cwt. |
| Brazil* | ||||
| HRC | $23-$24 | $507-$529 | $460-$480 | down $1.00 cwt. on the top end with rumors of deals |
| *DDP loaded truck US Gulf Coast ports | ||||