The most commonly heard spot price transaction range for US domestic hot rolled coil continues to be heard at $40-$42 cwt. ($882-$926/mt or $800-$840/nt), ex-mill, although multiple sources close to SteelOrbis have said that mills are already starting to quote “closer to $45 cwt. ($992/mt or $900/nt) for new orders.
It’s also worth noting that Mexican HRC, which was most recently heard trending at $42 cwt ($926/mt or $840/nt), FOB Houston, garnered quite a bit of interest after Donald Trump announced his decision in the Section 232 case, with multiple sources close to SteelOrbis noting that “significant tonnage” was booked last Friday, due to a strong belief that US domestic HRC prices will continue to climb.
In terms of offers from other countries, traders say they are still seeking new offer prices from offshore mills, and that it will be “business as usual” for bookings, “the only difference is that our customers will be paying 25 percent more.”