Last week, SteelOrbis reported that the price range for US domestic hot rolled coil was trending at $34.50-$35.50 cwt. ($761-$783/mt or $690-$710/nt), ex-mill, and while the average range still holds, some sources are still reporting that deals up to $2.00 cwt. ($44/mt or $40/nt) below this range are available to volume buyers.
“Is the average guy getting that deal? No, but it’s out there for the big players,” a source said.
“Lead times are under five weeks and the mills are hungry for orders,” another source said. “They’re absolutely willing to negotiate.”
Another factor that’s tied to the softness within the HRC market relates to April scrap prices, which have trended downward by $20/gt across the board.
In terms of import offers, HRC from Serbia, Egypt and Mexico are still being heard at approximately $33 cwt. ($728/mt or $660/nt), DDP loaded truck in US Gulf coast ports (Serbia and Egypt), and FOB Houston (Mexico).