The US domestic hot rolled coil (HRC) market is continuing to suffer from inventory overhang and still-arriving imports are among the biggest challenges being faced by the market. Although the most commonly reported spot price transaction range remains unchanged since our last report a week ago, still at $21-$22 cwt. ($463-$485/mt or $420-$440/nt), ex-Midwest mill, sources close to SteelOrbis continue to report that the market is soft.
In terms of imports, trader sources have confirmed that Korean and Turkish mills are still offering HRC to the US at a rate that is approximately $2.00 cwt. ($44/mt or $40/nt) below domestic offers, but due to the ongoing trade case investigation, interest is weak.