US Hot Rolled Coil (HRC) prices rose another $ 100 to $ 1,800 per tonne amid continued supply shortages. The lead time for orders for rolled steel remains at the level of 6-8 weeks.
The spread between bushel scrap supplied by factories in the Midwest of the United States and HRC selling prices rose 7.4% to $ 1,229 from $ 1,144 a week earlier, climbing to a new all-time high.
Today, the difference in prices for raw materials and finished steel is more than six times higher than a year ago, when it was about $ 200 per tonne.
Exchange prices for hot rolled coils in the US for August delivery exceeded $ 1,825 a tonne, while September futures prices climbed $ 112 to $ 1,814 a tonne.
Import prices for HRC in Houston are up $ 10 to $ 1,560 per tonne excluding taxes.
According to the US Department of Commerce, HRC imports in the US could reach a multi-year high in June, with 267,000 tonnes of import licenses per month.