US domestic HRC and HDG prices have revised downward within the past week, with HRC prices softening by $1.00 cwt ($22/mt or $20/nt), and HDG prices softening by $1.00 cwt. ($22/mt or $20/nt) on the top end.
As such current US HRC prices are now trending in the approximate range of $39-$41 cwt. ($860-$904/mt or $780-$820/nt), FOB mill, against $40-$42 cwt. ($882-$926/mt or $800-$840/nt), FOB mill, a week ago.
US HDG prices have also softened slightly in the past 7 days and are now being heard at $49-$51 cwt. ($1,080-$1,124/mt or $980-$1,020/nt) FOB mill, against $49-$52 cwt. ($1,080-$1,146/mt or $980-$1,040/nt) FOB mill, a week ago.
CRC prices, on the other hand, are “mostly unchanged” and continue to trend at roughly $50-$53 cwt. ($1,102-$1,168/mt or $1,000-$1,060/nt), FOB mill.
As we’ve noted in previous weeks, sources continue to confirm that deals slightly above and below these ranges have been heard based on order volume.
Lead times for HRC are being heard at approximately 5 weeks, whereas lead times for CRC and HDG coil are being heard at 8-9 weeks and 6-7 weeks, respectively.
Sources have described order activity as “unexciting” and “lackluster,” adding that prices are likely to remain soft in the near-term.