Last week, SteelOrbis reported that US HRC prices seemed to have stabilized after the October price increase announcement. Prices did not move upward, but the announcement “seemed to have removed the low-ball deals from the table” at first.
And while the “most average” price range we reported a week ago, $39.50-$41.50 cwt. ($871-$915/mt or $790-$830/nt), ex-mill, is still holding steady, sources close to SteelOrbis say that mills are once again offering deals as low as $37.00 cwt. ($816/mt to $740/nt), ex-mill.
“That price isn’t out there for the average buyer but it’s out there for the big guys,” a source said. “The mills want $40 cwt. ($882/mt or $800nt) but that’s not always happening. They also want the big tons which is why they’re getting creative.
Looking offshore, trader sources have confirmed that import pricing from last week has remained stable. US import HRC offers 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, while 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.