The US domestic HRC market maintained a flat range at the beginning of March, with a slight increase in the last week of March. In particular, the East Coast experienced a revival compared to the previous week, posting gains of 15-20 USD/ST. Spot market prices remained flat in the range of 770-790 USD/ST EXW without any signs of a downturn.
Comments from market experts indicated that several lots for shipment in the second half of April were confirmed in the range of 800-810 USD/ST, indicating confidence in the market's upward trajectory. Moreover, major producers took some precautions by raising their base prices to 825-840 USD/ST EXW.
Commenting on these developments, industry experts emphasized the resilience of the US domestic flat product market despite the recent challenges: "The stability and growth rates observed reflect a promising trend and point to a recovery from the previous downturn," they said.
Moreover, market speculation pointed to a continued upward trend, fueling expectations of further price increases in the near future. This is supported by factors such as improving economic conditions, ongoing infrastructure projects and strong industrial activity.
With actions taken by industry leaders, the outlook remains positive. However, stakeholders need to remain vigilant and agile in navigating the market's volatile movements to capitalize on emerging opportunities and mitigate potential risks.
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