US HRC index remains above $74/cwt

Hot-rolled coil prices in the United States remained above $74 per hundredweight in the second week of April, with steady demand for spot material and restricted supply bolstering the hot-band price

Fastmarkets’ daily steel hot-rolled coil index, fob mill US was calculated at $74.13 per hundredweight ($1,482.60 per short ton) on Monday April 11, down 2.01% from $75.65 per cwt on Friday April 8 but up 1.53% from $73.01 per cwt a week ago.

Fresh inputs were received in the producer and distributor sub-indices in a tight range of $72.50-75.00 per cwt, representing deals, mill offers and general indications of current spot market pricing. An input was rolled over in the consumer sub-index due to lack of liquidity.

Heard in the market

Though the HRC index has retreated from Friday’s high of $75.65 per cwt, most mills – but not all – are offering material at $75 per cwt or above, sources said.

Overall spot demand has improved versus March and the environment of panic buying created in the aftermath of the ukraUkraine war has subsided, according to a producer source.

Spot tons are not plentiful in domestic and import markets, supporting US coil prices, according to buyers.

Quote of the day

Spot demand is steady,” a producer said. “We are not seeing the buyers purchase material like crazy in fear they cannot get their hands on material, but they are buying more than they were six weeks ago.

What to read next
Following an initial consultation with the market, and a review of the typical data sets that have been collected over recent months, Fastmarkets is proposing the changes to the name and specifications of the index for iron ore 62% Fe fines, fot Qingdao (MB-IRO-00011), and iron ore 62% Fe fines, fot Qingdao, $/tonne conversion (MB-IRO-00022), […]
Discover how the US-Japan trade deal is reshaping the auto and steel industries, with insights on tariffs, production shifts, and market competition
Fastmarkets’ SBQ price assessments and monthly forecast provide much-needed clarity and a benchmark for buyers in the steel industry to use for planning and negotiation.
American Chambers of Commerce (Amcham) across Latin America are calling for urgent negotiations to prevent the escalation of trade tensions between their countries and the US, following the announcement of sweeping 50% tariffs by President Donald Trump.
China’s push for greener ferro-alloy production has revealed a significant divide between its northern and southern regions due to contrasting access to clean energy, supply and demand dynamics and regulatory environments, according to market participants.
Nickel pig iron (NPI) is a key feedstock material used for stainless steel production, and the CIF has grown to become one of the mainstream trading methods for the Chinese market. The proposed price assessment will allow Fastmarkets to bring more transparency to the Chinese NPI market. Fastmarkets has been tracking spot and DDP China […]