Hot rolled coil (HRC) prices in the US continue to rise as supply remains tight and demand remains strong.
Weekly US domestic hot rolled coil price estimate from Argus is up another $ 15 to $ 1,521.50 per tonne pickup from the factory. Lead times for rental orders increased to 8-9 weeks from 7-9 weeks.
There is a growing consensus among market players that demand will remain strong for most of the year, and some service centers predict that supply problems will be exacerbated by the auto industry once it returns to the market in full force.
Automotive production in North America has been constrained for several months by a global semiconductor shortage, which has led to some reduction in consumption of steel auto suppliers.
Hot rolled coil import prices in Houston rose $ 30.50 to $ 1,387.50 per tonne per day as world prices continue to rise. World prices continued to rise along with the cost of metallurgical raw materials.