Sources close to SteelOrbis have noted that US HRC prices have dipped back down from last week’s levels.
A week ago, US HRC prices had firmed by roughly $1.00 cwt. ($22/mt or $20/nt) on the bottom end, and by $2.00 cwt. ($44/mt or $40/nt) on the top end from levels heard during the first week of July. This brought the “average” spot market price transaction range to $40-$44 cwt. ($882-$970/mt or $800-$880/nt), FOB mill.
Today, however, sources have confirmed that prices have “dipped back down” and are now trending at roughly $39-$42 cwt. ($860-$926/mt or $780-$840/nt) FOB mill.
CRC prices are “mostly” stable, although the range has softened by about $1.00 cwt. ($22/mt or $20/nt) on the top end. This brings today’s prices to an average transaction range of $51-$55 cwt. ($1,124-$1,213/mt or $1,020-$1,100/nt), FOB mill.
HDG coil prices, on the other hand, have softened by roughly $3.00 cwt. ($66/mt or $60/nt) week-over-week to an average range of $50-$53 cwt. ($1,102-$1,168/mt or $1,000-$1,060/nt), FOB mill.
Similar to previous weeks, deals at the low end of these ranges are only available to clients placing large-tonnage orders, whereas deals slightly above these ranges have been heard within the market place for small-tonnage orders.
Lead times for HRC are trending at an average of 4-6 weeks, whereas lead times for CRC and HDG coil are trending at approximately 6-8 weeks.