Most HRC offers remain in a similar range from last week, at approximately $30.50 cwt. to $31.50 cwt ($672/mt to $694/mt or $610/nt to $630/nt), ex-Midwest mills; however, HRC offers are likely to begin absorbing some of the recent $1.00 cwt. to $2.00 cwt. ($22/mt to $44/mt or $20/nt to $40/nt) mill increases over the next several days in large part to the improved health of the pipe and tube markets. Finding HRC deals under $30.00 cwt. ($661/mt to $600/nt) are an anomaly these days.
Meanwhile most domestic CRC prices have also trended neutral since last week, with spot prices continuing to range between $35.50 cwt. and $36.50 cwt. ($783/mt to $805/mt or $710/nt to $730/nt) ex-Midwest mills. Unlike HRC, CRC prices may be taking a little more time absorbing last week's mill price announcements and most distributors speculate whether the full increase will stick this time around. Furthermore, some distributors believe that the latest price hike attempts are more of an effort to push indexes higher, than reflective of market conditions.
As for imports, Mexican offers, in line with other countries, have trended neutral and continue to range between $30.00 cwt. and $31 cwt. ($661/mt to $683/mt or $600/nt to $620/nt) delivered to US border states.
While Chinese imports continue to be priced higher than domestic prices, it is expected that new pricing will be announced after the Chinese New Year holiday.