It has long been expected that if a trade case petition was filed against offshore producers of import cold rolled coil (CRC) or hot dipped galvanized (HDG) coil was announced, that flats mills would try to roll out a second round of price increases. The HDG petition was announced earlier this week and sources close to SteelOrbis say it’s just a matter of time before mills send increase announcements out to their customers.
The May increase has yet to be accepted, and if a second is put to paper it may serve to force the first one into acceptance. For now, though, the market has continued its sideways trend. The average spot price for US domestic HRC is unchanged week-on-week, at approximately $23.00-$24.00 cwt. ($507-$529/mt or $460-$480/nt), ex-Midwest mill. Offshore offer prices are also unmoved.
| Cwt. | Metric Ton (mt) | Net ton (nt) | Change from last week | |
| US ex-mill spot price | ||||
| HRC | $23-$24 | $507-$529 | $460-$480 | neutral |
| Turkey* | ||||
| HRC | $20-$22 | $441-$485 | $400-$440 | neutral |
| Australia* | ||||
| HRC | $20-$22 | $441-$485 | $400-$440 | neutral |
| Brazil* | ||||
| HRC | $20-$22 | $441-$485 | $400-$440 | neutral |
| *DDP loaded truck US Gulf Coast ports | ||||