US Steel has increased its hot-rolled coil (HRC) prices to $900/short ton, a $50-100 increase from the previous week's increase. The move was anticipated by the market after the United Auto Workers (UAW) strike against Ford, General Motors (GM), and Stellantis ended. The UAW and Ford reached a tentative agreement, with UAW workers returning to work at Ford while they remain on strike at GM and Stellantis.
The Midwest and southern HRC ex-works spot prices are $800/st, while CRC and hot-dipped galvanized coil prices are $1,000/st. These prices rose last week as steelmakers secured higher prices on long lead times. HRC Midwest lead times are at eight weeks into mid-December, while CRC and HDG coil lead times are 10.5 weeks into January.
Comments
No comment yet.