While the flats spot market outlook remains grim due to poor trading, hot rolled coil (HRC) prices have not changed during the past week. As a consequence of firm HRC pricing, the majority of flat steel spot traders have decided to maintain the same offer levels as the week before. However, due to the market’s pessimistic atmosphere, several aggressive flat steel spot traders have considerably reduced offers in order to boost their trading activity.
Over the past week, workable domestic hot rolled sheet prices have remained stable at around $730-750/mt ex-warehouse. While medium-sized and smaller traders are offering at roughly $730-740/mt ex-warehouse, bigger traders are offering at around $745-750/mt ex-warehouse.
Nevertheless, as previously stated, in an attempt to attract purchasers, certain traders have offered less than reasonable prices, at around $710-720/mt ex-warehouse.
Similar patterns have been observed in the cold rolled sheet market, where prices have remained unchanged week on week at $840-880/mt ex-warehouse.
