US HRC prices remained stable this week as market seeks direction

Domestic US HRC Midwest and southern prices remain flat at $870/short ton (st), down by 28pc since April's peak of $1,200/st. Repeatable offers range from $840-900/st, with some mills selling less than 100st for an average price of $1,000/st. Service center contacts reported limited buying activity after the 4 July holiday, with many opting for short lead time spot purchases. The lead time average increased to 4-6 weeks from 4-5 weeks as mill order books moved into mid- to late-August. The market remains uncertain about the impact of Steel Dynamics' Sinton, Texas flat rolled mill shutdown on supply.

Service centers are working to shift orders to other flat mills in Columbus, Mississippi, and Butler, Indiana. US HRC import prices fell by $40/st to $760/st, with repeatable offers between $740-780/st. South Korea is offering at $760-780/st for October and November delivery, but interest is limited. Mexico is receiving a premium for its HRC at prices between $840-860/st due to close lead times from Mexico.