US domestic flat rolled steel prices have moved slightly since our last report a week ago.
For example, US HRC prices are now trending at approximately $40-$42 cwt. ($882-$926/mt or $800-$840/nt), FOB mill, against $39-$42 cwt. ($860-$926/mt or $780-$840/nt) FOB mill, a week ago. Sources have said they do not believe that this move is statistically significant, adding that they do not believe that this is the start of a sustainable uptrend.
CRC prices have softened by another $1.00 cwt. ($22/mt or $20/nt) in the past week and are now trending at roughly $50-$53 cwt. ($1,102-$1,168/mt or $1,000-$1,060/nt), FOB mill. US HDG prices are unchanged in the past 7 days and are still being heard at $50-$53 cwt. ($1,102-$1,168/mt or $1,000-$1,060/nt), FOB mill.
Similar to previous weeks, sources have confirmed that deals at the low end of these ranges are available to clients placing large-tonnage orders. Deals slightly above these ranges are still being heard within the market place for small-tonnage orders.
Lead times for HRC continue to trend at an average of 4-6 weeks, whereas lead times for CRC and HDG coil are trending at approximately 6-7 weeks.