US HRC: Prices edge up to start year

US hot-rolled coil (HRC) prices rose slightly this week amid a quiet spot market recovering from the New Years holiday.

The Argus weekly domestic US HRC Midwest and southern assessments both rose by $13/short ton to $1,600/st, breaking a four week slide.

Sales, purchases and offers were reported at $1,600/st.

Lead times in the Midwest rose slightly to 4-5 weeks from 4 weeks.

There was little activity in the last week, which was caught between the Christmas and New Years holidays. Many sources reported slow going to start the year, with some customers still out of the office.

HRC import prices into Houston were flat at $1,200/st ddp.

The spread between #1 busheling scrap delivered US Midwest mills and HRC selling prices edged up by 1.2pc compared to the prior week to $1,071/st on the increase in HRC pricing. A year ago the spread was $683/st.

The Argus weekly domestic US cold-rolled coil (CRC) assessment was flat at $2,060/st while the hot-dipped galvanized (HDG) assessment was also flat at $2,050/st.

Lead times for CRC and HDG both were flat at 6-7 weeks.

The CME HRC Midwest futures market was mixed in the last week. February pricing edged up by $4/st to $1,329/st, while March pricing increased by $34/st to $1,254/st. April pricing slipped by $6/st to $1,190/st, and May futures pricing fell by $13/st to $1,165/st. June pricing was down by $15/st to $1,124/st.

Plate

The Argus weekly domestic US plate assessment increased by $13/st to $1,878/st delivered. Lead times widened to 4-7 weeks from 5 weeks.