The most commonly reported spot price transaction range for
US domestic hot rolled coil (
HRC) has continued to firm in the past week after domestic
flats mills rolled out a second round of price increase announcement letters. This, according to SteelOrbis sources, puts the average spot price for
HRC at approximately $33.00 cwt. ($728/mt or $660/mt), which is consistent with what
flats mills had aimed for when they sent out the first round of letters in mid-March. Most buyers say they’re not really booking orders, though, as many bought when they thought the market bottomed out. Those who do need to buy, however, are finding they’re needing to pay more than they did a month ago.
Meanwhile, trader sources say that although import prices from
Russia and
Mexico are unchanged in the past week, that at the current time, few if any are booking large quantities of position tons.
| |
Cwt. |
Metric Ton (mt) |
Net ton (nt) |
Change from last week |
| US domestic |
|
|
|
|
| Ex-Midwest mill |
|
|
|
|
| HRC |
$32.00-$33.00 |
$706-$728 |
$640-$660 |
up $1.00 cwt. |
| |
|
|
|
|
| Mexico** |
|
|
|
|
| HRC |
$31.00-$32.00 |
$684-$706 |
$620-$640 |
neutral |
| |
|
|
|
|
| Russia* |
|
|
|
|
| curently arriving HRC |
$29.00-$30.00 |
$595-$617 |
$540-$560 |
neutral |
| new bookings HRC |
$31.00-$32.00 |
$684-$706 |
$620-$640 |
neutral |
| *DDP loaded truck in US Gulf ports / arriving now |
| **DDP loaded truck delivered into Houston |