US sheet steel market distress continue, hot-rolled coil prices fallPosted by Klinge Nash on January 22nd, 2021 Hot-rolled coil prices in the US fell Wednesday as placing pressure proceeded in an oversupplied market. Rates for HRC was up to 0-$ 420/st from 0-$ 430/st Tuesday. Cold-rolled coil prices remained degree at 0-$ 550/st day on day. All costs are stabilized to a Midwest (Indiana) ex-works basis. Brand-new orders for mills have ended up being scarce as customers have kept their focus of marketing stock and also are on the sidelines concerning taking any type of brand-new physical placement on product. Several resources have indicated that current supply at the ports and also accessibility from solution facilities as well as distributors are subduing the demand to buy material from the mills. One mill resource said that the market is slow-moving as "people are frightened to take a position [and also] no one intends to purchase." He concurred that present prices was "muddy and also all over the area." Hot-rolled coil prices was in between 0-0/st, while CRC as well as hot-dipped galvanized base rates was around 0/st, the mill source claimed. Yet drilling mud additives list had actually not seen HRC go listed below 0/st. He added that it would not be surprising if buyers were requesting for reduced numbers to place an order for HRC, CRC and also hot-dipped galvanized. One Midwest maker claimed a mill was seeking him for a 100 st HDG order, which he had been postponing. In addition, his CRC rate from an additional mill had been 0/st last week, and also he thought it might likely be lower today. He said October is usually a great service month for the company and he does not believe it will misbehave. Yet he kept in mind task is much slower than it has actually been traditionally. Recent orders for two or 3 truckloads of material have had suppliers aggressively competing, he said. "When I usually had one reduced man, currently I have 3 or four for an order," he added. He said he was just used supply imported CRC at under 0/st for an order of under 500 st in the Midwest. A second solution facility resource added purchasers had a large array of choices to get product from stock at the ports. He stated accessibility was not a concern and also you can essentially choose what coils you desire from whatever wanted country of origin. A trader concurred that supply at the ports was widely readily available as well as noted that present HRC provides for stock in the Houston area are around 0/st, while CRC is better to 0-0/st.Like it? Share it! More by this author |