US domestic hot rolled coil prices have continued to hold in the range of $41.50-$43.00 cwt. ($915-$948/mt or $830-$860/nt) ex-mill, but sources close to SteelOrbis say that some mills are still open to negotiation price based on order size. Current prices, however, are up substantially from late September 2017, when the US HRC spot market prices were being heard in the range of $30.50-$31.50 cwt. ($672-$694/mt or $610-$630/nt), ex-mill.
Sources continue to report a strong belief that prices will continue to erode slowly through the second quarter of next year. The wild card, however, continues to be whether steelworkers at AMUSA and US Steel go on strike. Should a labor strike happen, prices could reverse course and firm slightly in the short-term.