Last week, SteelOrbis reported that US HRC spot market prices had softened by $0.50 cwt. ($11/mt or $10/nt) from levels seen in early August. This week, however, prices have remained mostly level, at $43.50-$44.50 cwt. ($959-$981/mt or $870-$890/nt), ex-mill.
“We’ve heard of some deals up to $1.00 cwt. ($22/mt or $20/nt) below this range but they’re not widely available,” one source said, adding that shorter lead times have some mills increasingly willing to negotiate on price.
The question as to whether planned flat rolled steel mill outages will have an impact on market pricing has yet to be known. Although some feel this could keep prices stable due to decreased availability, others continue to point out that HRC import arrivals are expected to see a notable uptick during September.
In terms of offshore pricing, that has once again remained level. Import HRC in the domestic market from Korea, Turkey, Egypt and Germany continues to be heard in the range of $37.50-$38.00 cwt. ($827-$838/mt or $750-$760/nt), DDP Loaded Truck in US Gulf coast ports.