Although US flat rolled steel mills have yet to get their full increase, spot market prices for hot rolled coil (HRC) have firmed slightly.
For example, last week, prices were trending in the range of $22.00-$25.00 cwt. ($485-$551/mt or $440-$500/nt), ex-mill; this week, that range has firmed to $23.00-$25.00 cwt. ($507-$551/mt or $460-$500/nt), ex-mill. However, sources say that buyers who are paying prices toward the top of that range are “few and far between,” noting that in some cases, “customers who show up at the mill with a big order in hand might still be able to do a little better.”
Lead times are as short as three weeks in some cases, although it’s believed that once domestic automakers fire back up their production lines, this could help shore up softness within the flat rolled steel market.