Prices for US domestic hot rolled coil (HRC) continue to trend in the range of $43-$45 cwt. ($948-$992/mt or $860-$900/nt), ex-mill, but sources close to SteelOrbis have indicated that offshore offers, including quotes from Mexico, have fallen silent while mills evaluate the still-uncertain trends within US trade policy.
“There’s still a lot of uncertainty. We all thought we’d know something final on May 1, but now that the decision has been delayed, we’re right back where we were a month ago,” a source said. “It’s impossible to do business in this type of environment.”
Another source echoed that sentiment.
“It’s not final yet but everyone is expecting wide sweeping import quotas, so the good news is that all the people who were worried that US prices would correct toward the end of the year can probably rest easy,” he said. “On the other hand, we’re not looking at a situation where, due to quotas and product shortages, we could see prices spike. It’s simple supply and demand.”