HDG prices fell by $20/st to $940/short ton (st), while CRC prices fell by $20/st to $980/st. HRC prices fell by $30/st to $760/st. Repeatable HDG offers ranged from $920-950/st, with one Midwest mill offering these prices after offering elevated prices for weeks. US HDG mill lead time increased to eight weeks from 7-8 weeks, while CRC lead times remained flat at 7-8 weeks.
HRC prices continued to decline as offers continued to drop and the steel industry gathered in Atlanta for the primary conference of the year. Domestic US HRC Midwest and southern assessments fell by $30/short ton (st) to $760/st ex-works. Repeatable HRC offers were heard between $720-800/st, with multiple assessments heard in the $700 level.
Few believe upcoming outages in September and October will impact the HRC side of the market, as around 1 million st of flat steel production is expected to go offline. The lead time average for US HRC Midwest rose to 4-5 weeks from 3-5 weeks.
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