Hot rolled coil (HRC) prices in the United States rise for the second week in a row as limited supply helped drive market prices up.
The US HRC Index, tracked by Argus, has risen by $ 80 over the past 14 days to $ 1,250 per tonne. The deadlines for fulfilling rental orders remained unchanged and amounted to 7-8 weeks.
The US steel market is still experiencing a shortage of supply, while the availability of steel products is lower than expected.
The US Cold Rolled Coil (CRC) price estimate increased to $ 1,390 per tonne, while the hot-dip galvanized (HDG) price estimate increased to $ 1,385 per tonne. CRC lead times dropped to 9-10 weeks from 9-12 weeks, and HDG lead times were reduced to 10-11 weeks from 9-12 weeks.
HRC import prices in Houston are up $ 10 to $ 1,000 per tonne. Although there have been no offers on the market yet, it seems that few are interested in buying imported steel due to the long delivery times.
