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US HRC index consolidates around $34/cwt

Hot-rolled coil prices in the United States hovered around $34 per hundredweight ($680 per short ton) while domestic mills continued offering hot band at the newly stabilized price

December 13, 2022
By Rijuta Dey
Steel

Fastmarkets’ daily steel hot-rolled coil index, fob mill US was calculated at $34.25 per cwt ($685 per ton) on Monday December 12, up by 0.74% from $34.00 per cwt on Friday December 9 and by 0.29% from $34.15 per cwt a week earlier.

Inputs were received in the buyer and seller sub-indices in a range of $33-35 per cwt, including deals, mill offers and assessments.

Heard in the market

The spate of price increases announced by multiple mills have stabilized hot band prices in the United States, market participants said.

Some sources expressed skepticism about how many active spot deals are being struck at around $35 per cwt, considering the approaching winter holidays and seasonal slowdown before the Christmas break.

Prices have stabilized, and US mills might announce another price increase before the end of the year

Steel distributor

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