Spot market prices for US domestic HRC, CRC, and HDG coil have continued to firm since our last report two weeks ago. Prices for US domestic HRC are up by $1.00 cwt. ($22/mt or $20/nt) since our last report on Dec. 22 and are now trending at $33-$36 cwt. ($728-$794/mt or $660-$720/nt), FOB mill, whereas CRC prices have firmed by approximately $2.50 cwt. ($55/mt or $50/nt), FOB mill, and are now being heard at $44.50-$47.50 cwt. ($981-$1,047/mt or $890-$950/nt), FOB mill.
US HDG prices, on the other hand, are up by $4.00 cwt. ($88/mt or $80/nt) in the past 2 weeks and are now trending at $46-$49 cwt. ($1,014-$1,080/mt or $920-$980/nt), FOB mill.
Sources close to SteelOrbis, however, have said that mills are quoting “above these ranges” for small-tonnage orders.
Sources have also indicated that similar to what was reported in December, although there is restocking that is taking place, buyers remain cautious as they’re wary that prices could “swing back down” by the time they get their steel.