Spot market prices for US domestic hot rolled coil continue to be heard in the range of $44-$45 cwt. ($970-$992/mt or $880-$900/nt) ex-mill, but sources close to SteelOrbs say that interest in booking import HRC from mills in Korea and Turkey is on the rise.
Even with the tariffs, sources say, imported material can be purchased at a lesser cost compared to the domestic spot market; offshore material is being offered at approximately $2-$3 cwt. ($44-$66/mt or $40-$60/nt), DDP loaded Truck in US Gulf coast ports, although some traders say that there have been a handful of Turkish offers at a slightly better rate.
Lead times for US HRC is still trending, on average, between 5 and 7 weeks; it’s still believed that US HRC prices may continue to firm toward the end of the summer, as many believe there may be a shortage of material on the horizon. Although some are predicting HRC prices will peak at $50 cwt. ($1102/mt or $1000/nt), others think prices may not climb above $48 cwt. ($1058/mt or $960/nt), ex-mill.