Although some buyers and sellers are reporting that US HRC prices are hovering at approximately $30 cwt. ($662/mt or $600/nt), others within the market say that number isn’t entirely accurate.
“There are a lot of people who would like you to believe that’s where the market is, but that’s simply not the case,” a source said. “The average buyer is paying somewhere between $29.00-$29.50 cwt. ($639-$650/mt or $580-$590/nt) at the mill, but the big guys can still do better than that.”
Current expectations for the market are largely in line with what we’ve been predicting in recent weeks. Prices are likely to remain stable in the upcoming weeks, with a downward correction expected in Q4.