US HRC market remains stable

Cleveland-Cliffs announced a price of $750/t for January deliveries, which is in line with the October-November level, despite the market weakness. The company attributes the decision to a recovery in demand and a renegotiation of contractual obligations, but noted that the price may change depending on market conditions.

Nucor also maintained the price at $750/t for most of its mills, with the exception of CSI, where the price is $810/t. Key steelmakers are trying to maintain stability amid weak demand and an unfavorable macroeconomic environment.

In November, the global hot rolled coil market was uncertain, and in the US, prices declined. The upper limit fell by 2.8%, and the lower limit by 4.2%, with actual transactions concluded at lower prices due to passive buyers and ample inventory.