Spot prices within the US domestic hot rolled coil (HRC) markets may have held sideways since our last report a week ago, but order activity and inquiries have tapered off as many in the US took extra days off leading into the Thanksgiving holiday.
The most commonly reported spot price range has held at approximately $32.00-$33.00 cwt. ($705-$727/mt to $640-$660/nt) ex-Midwest mill, although sources close to SteelOrbis continue to report that while the smallest buyers are still paying toward the top end of that range, the biggest buyers with the largest orders are still able to negotiate deals as much as $2.00 cwt. ($44/mt or $40/nt) below that range.
Cwt. | Metric Ton (mt) | Net ton (nt) | Change from last week | |
US domestic | ||||
Ex-Midwest mill | ||||
$32.00-$33.00 | $705-$727 | $640-$660 | neutral | |
Turkey* | ||||
$27.50-$28.50 | $606-$628 | $550-$570 | neutral | |
Australia* | ||||
$28.50-$29.50 | $628-$650 | $570-$590 | neutral | |
Brazil* | ||||
$29.00-$30.00 | $639-$661 | $580-$600 | neutral | |
*DDP loaded truck US Gulf Coast ports | ||||