HRC prices in the U.S. market remained stable at $848.8/short ton FOB US Midwest. While demand was steady, purchase volumes stayed limited; maintenance outages continue to restrict supply and support prices. CRC and galvanized coil (HDG) prices also held steady at $1,005/short ton and $895/short ton, respectively, with mills’ price hike attempts seeing little response. Merchant bar quality (MBQ) prices remained unchanged at $1,106/short ton, with Houston delivery prices reported in the range of $980–1,090/short ton. Demand remains weak, inventories are sufficient, and some producers are reportedly applying discounts of around 3–5%.
No.1 Busheling prices were stable at $390/gross ton. Mills are renegotiating high-premium contracts ahead of the 2026 contract period, while an estimated 500,000 tons of prime scrap stock in Canada is exerting downward pressure on prices.
In the North Mexico market, rebar prices rose slightly to 13,800–14,200 pesos/ton ($743–770/t) amid recovering demand and higher scrap costs. Hot rolled coil (HRC) prices remained flat at around $700/ton. The U.S. Section 232 tariffs continue to weaken cross-border demand for Mexican steel, while declining exports have created a domestic oversupply, pressuring prices. Producer Ternium expects a mild price correction entering Q4 but anticipates that the upcoming renegotiation of the USMCA trade agreement in 2026 could revive demand.
Brazilian slab export prices remained steady in the $450–465/ton range, with no new deals reported and the market maintaining a quiet tone. Producers are cautious ahead of trade discussions with the U.S. and are seeking to balance sales between European and American markets. Overall, steel markets across the Americas are showing stable prices, weak demand, and limited trade flows under the influence of tariffs.
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