The most commonly heard spot market pricing for US domestic HRC has held steady for the second week in a row, at $43-$45 cwt. ($948-$992/mt or $860-$900/nt), ex-mill, and many think that current price points will remain level until the Trump administration makes a final decision on Section 232 exemptions.
Ultimately, if the exemptions are maintained without tariffs, US domestic prices could face downward pressure. On the other hand, if the countries named are subject to steel export quotas, this could push US prices higher.
Current ex-mill lead times are trending at approximately six weeks, which is also stable week-over-week.
“At this point the market seems to be in a holding pattern,” a source said. “We’re all waiting for that decision to be rendered so we can have a better idea of what’s going to happen.”
Looking south, Mexican HRC in the US domestic market continues to be available at $40-$42 cwt. ($882-$926/mt or $800-$840/nt), FOB Houston; order activity, sources say, is stable.