Home / Main / Hot rolled sheet prices in the US are ready to surpass the $ 1000 per tonne mark

Hot rolled sheet prices in the US are ready to surpass the $ 1000 per tonne mark

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Hot rolled coil (HRC) prices in the US are up again this week as mills are unable to keep up with skyrocketing steel demand.

Hot rolled sheet prices in the US are ready to surpass the $ 1000 per tonne mark

Argus's US Weekly Domestic Hot Rolled Sheet (HRC) Index is up $ 50 to $ 920 ex works this week.

The registered price is the highest since Argus began registering HRC prices in August 2018, and more than double the price recorded in mid-August, when HRC spot prices hit an annual low of $ 450 per tonne.

The growing shortage and lead times for rolling orders indicate a continuing rise in prices, which, according to market participants, will soon exceed $ 1,000 per tonne, which will be the highest price level in the history of the steel trade.

The market is in an ongoing process of consolidation: Cleveland-Cliffs completed its purchase of the assets of ArcelorMittal USA last week, and US Steel exercised its option to buy the remaining stake in Arkansas-based Big River Steel on December 8th.

The US Domestic Cold Rolled Coil (CRC) rating rose $ 55 /piece to $ 1,055 /piece, and the Hot Dipped Galvanized Coil (HDG) rating increased $ 60 /piece to $ 1,070 /piece. CRC lead times remained unchanged at 8-9 weeks, while HDG lead times increased to 9-10 weeks from 8-9 weeks.

HRC import prices in Houston rose by $ 20 per piece to $ 820 per piece per day due to higher world prices. No deals were reported as long lead times and high prices discouraged many from trying to import.

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