US domestic flat rolled prices are holding strong and steady, despite yet another price increase announcement--this time by Nucor Sheet Mill Group on Monday. However, buyers are expecting another price jump in the New Year.
For now, HRC spot prices have remained flat in the general range of $33.00-$34.00 cwt. ($720-$750/mt or $660-$680/nt) ex-mill and CRC spot prices are stable at approximately $38.00-$39.00 cwt. ($837-$859/mt or $768-$780/nt) ex-mill, even with Nucor’s new asking prices of $35.00 cwt. ($700/nt or $772 mt) for hot rolled coil and $40.50 cwt. ($893/mt or $810/nt) for cold rolled coil orders. Sources expect additional mills to increase prices in the next few weeks and spot prices to rise quickly.
Import pricing also remained neutral this week, Indian CRC offers are approximately $35.50-$36.50 cwt. ($783-$805/mt or $710-$730/nt) DDP loaded truck into US Gulf ports, and Chinese CRC offers remained in the approximate range of $33.50-$34.50 cwt. ($739-$761/mt or $670-$690/nt) DDP loaded truck in US Gulf ports.
| Cwt. | Metric Ton (mt) | Net ton (nt) | Change from last week | |
| US domestic | ||||
| Ex-Midwest mill | ||||
| HRC | $33.00 -$34.00 | $720-$750 | $660-$680 | neutral |
| CRC | $38.00-$39.00 | $837-$859 | $768-$780 | 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 | ||||