US domestic hot rolled coil prices have increased again this week, with spot prices reportedly up $0.50 cwt. ($11/mt or $10/nt). Current HRC prices are now in the range of $28.00-$29.00 cwt. ($617-$639/mt or $560-$580/nt) ex-mill.
However, sources tell SteelOrbis they are concerned that the increase in prices is “artificial” and not linked to end-use demand, as many buyers “bought at the bottom.” Sources say this means the upward trend might not be sustained in the New Year.