The most commonly heard spot market price transaction range for US domestic hot rolled coil has remained stable week-over-week, at $32.50-$34.50 cwt. ($717-$761/mt or $650-$690/nt), ex-mill.
Import pricing is also steady since our last report a week ago, as trader sources have indicated that US sales pricing for import HRC coil from Turkey and Korea in the US domestic market continues to trend in the range of $32-$34 cwt. ($705-$750/mt or $640-$680/nt), DDP loaded truck in US Gulf coast ports. Offshore booking activity, sources said, continues to be robust, as US buyers believe that domestic pricing will continue to trend upward through the close of Q1 2018, with many believing the uptrend will continue into the middle, if not the end of Q2.
It’s further believed that current domestic pricing stability will not last much longer, as there is widespread speculation that US mills will announce another round of price increases after scrap settles in February.