The most commonly reported spot price transaction range within the US domestic hot rolled coil (HRC) market may have been neutral throughout the month of August, but that’s not to say bookings haven’t seen fluctuations within the range. Earlier in the month, SteelOrbis sources said transactions were taking place at the top end of the current range, which has held at $33.00-$34.00 cwt. ($727-$750/mt or $660-$680/nt) ex-Midwest mill, but now, the pendulum has seemingly started to swing in the opposite direction. “Mills are a bit hungrier for orders than they’re letting on,” according to one Midwest service center, noting deals may be available for those interested in booking hefty tonnages.
In terms of offshore offers, trader sources say few if anyone is booking orders from Russian producers, due to the ongoing political unrest and upheaval in that region of the world. This, according to sources, has led to additional futures offers from Brazil and Turkey.
| Cwt. | Metric Ton (mt) | Net ton (nt) | Change from last week | |
| US domestic | ||||
| Ex-Midwest mill | ||||
| HRC | $33.00-$34.00 | $727-$750 | $660-$680 | neutral |
| Mexico** | ||||
| HRC | $31.50-$32.50 | $694-$717 | $630-$650 | neutral |
| Turkey* | ||||
| HRC | $31.00-$32.00 | $683-$705 | $620-$640 | new offer |
| Brazil* | ||||
| HRC | $31.50-$32.50 | $694-$717 | $630-$650 | new offer |