US domestic HRC prices have declined again week-on-week, from $38.50-$39.50 cwt. ($849-$871/mt or $770-$790/nt) ex-mill to approximately $37-$38 cwt. ($816-$838/mt or $740-$760/nt) ex-mill. This reflects a decrease of $1.50 cwt. ($33/mt or $30/nt) since our last report a week ago. Sources continue to report that buyers willing to book large tonnage orders can still get deals below the range.
As for imports, sources tell SteelOrbis that offers for import HRC in the US domestic market from Korea, Egypt and Serbia are around $34-$35 cwt. ($750-$772/mt or $680-$700/nt) DDP loaded truck in US Gulf ports, while offers from Mexico are around $36-$37 cwt. ($794-$816/mt or $720-$740/nt) FOB Houston. Import buyers are reportedly limiting orders due to the downtrend in US domestic HRC prices, just in case those prices have not yet hit bottom.