Spot prices in the US domestic hot rolled coil market may have held steady since our last report a week ago, still at approximately $33.00-$34.00 cwt. ($727-$750/mt or $660-$680/nt) ex-Midwest mill, but many still believe a $1.00 cwt. ($22/mt or $20/nt) price increase is just around the corner. “Business is better than expected,” according to one Midwest service center, noting the typical summer slowdown in activity didn’t stall order placement as much as it has in years past. Although some believe US mills could try to push prices up sooner than later, many think an increase announcement may not come until after Labor Day.
As for imports, trader sources say futures prices from Mexican mills have ticked down by about $1.00 cwt. ($22/mt or $20/nt) in the past seven days, although it’s still too soon to tell if that’s going to garner any significant, additional interest from US buyers.
| 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 | down $1.00 cwt. |
| Russia* | ||||
| new bookings HRC | $31.00-$32.00 | $684-$706 | $620-$640 | neutral |
| **DDP loaded truck delivered into Houston | ||||