Spot prices within the US domestic hot rolled coil (HRC) market have become increasingly flexible since our last report a week ago. This, according to SteelOrbis, is directly linked to lower-priced futures offers out of Korea and Turkey, which have all trended down by approximately $1.00 cwt. ($22/mt or $20/nt).
“All the offshore mills are selling lower at this point which has prompted the domestic mills to start making deals on larger orders.” Today the most commonly reported US domestic spot price transaction range has ticked down by approximately $1.00 cwt. ($22/mt or $20/nt) on the low end, bring the new range to $22-$24 cwt. ($507-529/mt or $460-$480/nt), ex-Midwest mill. It’s believed the current price points will hold until flats mills file trade case petitions, which some believe could happen just after Labor Day.
| Cwt. | Metric Ton (mt) | Net ton (nt) | Change from last week | |
| US ex-mill spot price | ||||
| HRC | $22-$24 | $507-$529 | $460-$480 | down $1.00 cwt. on low end |
| Korean | ||||
| HRC | $19-$20 | $419-$441 | $380-$400 | down $1.00 cwt |
| Turkey* | ||||
| HRC | $19-$20 | $419-$441 | $380-$400 | down $1.00 cwt |
| Brazil* | ||||
| HRC | $19-$20 | $419-$441 | $380-$400 | neutral |
| *DDP loaded truck US Gulf Coast ports | ||||