The mid-October US HRC price increase has come and gone without much fanfare. Current prices are still trending in the range of $39.50-$41.50 cwt. ($871-$915/mt or $790-$830/nt), ex-mill, with sources close to SteelOrbis indicating that previous deals below this range are no longer available.
“At this point, no one is worried about prices going up so buyers aren’t rushing out to make big buys to beef up their inventories,” a source said. “People are watching the market and they’ll evaluate their purchasing decisions on an as-needed basis.”
Looking offshore, trader sources have confirmed that US import HRC from Korea and Egypt in the domestic market are being heard at approximately $37.00 cwt. ($816/mt or $740/nt), DDP loaded Truck in US Gulf coast ports. US import CRC from Mexico in the US domestic market is being sold in the range of $37.00-$38.00 cwt. ($816-$838/mt or $740-$760/nt), FOB Texas.