US domestic flats mills’ price increase announcement letters have yet to firm spot market prices. If the most recent increase does not gain traction, this would be the second time in a row that price increase attempts have fallen flat. Some sources close to SteelOrbis, however, point out that it may be a bit soon to determine whether higher prices will be accepted by customers.
For now, prices remain steady week-on-week. The average spot price for US domestic HRC has held in the approximate range of $23.00-$24.00 cwt. ($507-$529/mt or $460-$480/nt), ex-Midwest mill. Offshore offer prices are also unmoved. As with last week, healthy inventory levels have interest in futures trending weak.
| 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 | ||||