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Prices for hot-rolled coil in the US are rising despite the lack of demand before the holidays

North America

U.S. hot rolled coil (HRC) spot prices rose this week as mills continued to raise prices even as the market slowed down ahead of the Christmas holidays.

Prices for hot-rolled coil in the US are rising despite the lack of demand before the holidays

U.S. steel mills offered HRC at $660-$700 a ton last week, with one reporting sales at $700 a ton.

Integrated steelmaker Cleveland-Cliffs continues to insist to a tonne of HRC at a minimum of $750.

Argus' HRC import estimate for Houston remained unchanged at $680/tonne/day with no transactions.

Spread #1 between scrap in bushels delivered from US Midwest mills and HRC rose 3.5% to $377/t.

A year ago, the spread was $1,131 apiece as hot-rolled steel prices fell from a record high.

Argus U.S. weekly valuation of cold rolled coil (CRC) is up $18/t to $895/t, while hot dip galvanized (HDG) coil is down $18/t. USD 8.75 per ton to USD 870 per ton.

Lead time CRC lead times have been reduced to 5-6 weeks from 6 weeks, and HDG lead times have increased from 6 to 6-7 weeks.

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