US domestic hot rolled coil (HRC) offers fell slightly this week as short mill lead times resulted in buys at lower prices.
Earlier this year, sources forecasted a softening in both CRC and hot rolled coil (HRC) after mills quietly made pricing increase announcements over the holidays. For now, a minor drop of $0.50 cwt. ($11/mt or $10/nt) was absorbed in HRC offers; it has not hit the CRC market as of yet, but sources expect it is coming. It may be too early to judge the overall health of the flats market–severe inclement weather in most of the US slowed business activity with buyers and mills this week.
HRC offers are now in the approximate range of $33.50-$35.00 cwt. ($739-$772/mt or $670-$700/nt) ex-mill. In the meanwhile, CRC prices were stable in the general range of $38.50-$39.50 cwt. ($849-$871/mt or $770-$790/nt) ex-mill.
Import pricing to the US remained flat this week as well. Chinese CRC offers stayed in the approximate range of $33.50-$34.50 cwt. ($739-$761/mt or $670-$690/nt) DDP loaded truck in US Gulf ports. Indian offers, meanwhile, remained in the price range of $34.50.00-$35.50 cwt. ($761-$783/mt or $690-$730/nt) DDP loaded truck into US Gulf ports.
| Cwt. | Metric Ton (mt) | Net ton (nt) | Change from last week | |
| US domestic | ||||
| Ex-Midwest mill | ||||
| HRC | $33.50-$35.00 | $739-$772 | $670-$700 | ↓ $0.50 |
| CRC | $38.50-$39.50 | $849-$871 | $770-$790 | neutral |
| Mexico** | ||||
| HRC | $30.00-$31.00 | $661-$683 | $600-$620 | neutral |
| China* | ||||
| CRC | $33.50-$34.50 | $739-$761 | $670-$690 | neutral |
| Russia* | ||||
| HRC | $29.00-$30.00 | $595-$617 | $540-$560 | neutral |
| India* | ||||
| CRC | $35.50-$36.50 | $783-$805 | $710-$730 | neutral |
| *DDP loaded truck in US Gulf ports | ||||
| **DDP loaded truck delivered into Houston | ||||