AMM HRC index debut shows prices on rise despite 232 doubts

Hot rolled coil (HRC) prices in the USA have moved higher despite growing uncertainty around the Trump administration’s Section 232 investigation into steel imports.

Metal Bulletin sister publication AMM's inaugural HRC index clocked in at $31.38 per hundredweight ($627.60 per ton), up 1.20% from AMM’s previous price assessment of $31 per cwt ($620 per ton). Lead times were reported on average in a range of three to seven weeks, according to market participants and mill lead time sheets – a.though there was wide variation among mills, with some sporting lead times stretching into mid-October and others having yet to open September order books. US hot band prices are supported in the short term by higher prices abroad – especially in China, which typically leads world price trends – as well as higher costs for raw materials such as coking coal and iron ore, market participants said. At home, HRC prices found...

Published

Michael Cowden

July 28, 2017

19:58 GMT