Hot rolled steel plate (HRC) spot price in the United States has surpassed $ 1,000 per ton for the first time in history and is more than double the price recorded in mid-August, when HRC spot prices hit an annual low of $ 450 a piece.
The greatest activity on the market was associated with the offers of metallurgical plants. Some businesses are reported to be planning to set their HRC spot price at $ 1,020 per tonne or more immediately after the New Year holidays.
Months of supply shortages and no purchases ahead of the price spike have left many service centers grabbing at whatever tonnage they can purchase, with most admitting they still can't keep up with growing demand, let alone replenish their warehouses.
At the same time, many experts believe that after the introduction of steelmaking capacities stopped during the height of pandemic restrictions, problems will begin on the demand side, when supply rises sharply and many fear that prices may quickly collapse.
US Domestic Cold Rolled Coil (CRC) rating rose $ 6.25 /piece to $ 1,067.25 /piece, while hot dip galvanized coil (HDG) rating increased $ 4.75 /piece to $ 1,078 /piece ... CRC lead times were unchanged at 8-9 weeks, while HDG lead times also remained unchanged at 9-10 weeks.