The continued strength of the scrap and hot rolled coil (HRC) markets has resulted in another increase in flat steel prices in the spot market. However, larger traders have reported a slowdown in business activity in comparison to previous weeks. Medium-size and smaller traders, on the other hand, have also decided to raise prices but are offering at the lower end of the range as trade remains sluggish and concerns persist about demand in the coming weeks.
As a result, this week workable domestic hot rolled sheet prices have increased by $10/mt week on week to $720-740/mt ex-warehouse. While medium-size and smaller traders are offering roughly at $720-730/mt ex-warehouse, larger traders are offering at around $740/mt ex-warehouse. However, a few sellers continue to offer lower levels at around $705/mt ex-warehouse to attract buyers.
Comparable trends have been observed in the cold rolled sheet market, where prices have increased from $830-850/mt ex-warehouse to $830-870/mt ex-warehouse.
