US cold rolled imports may rise after price increases

US buyers are walking away from offers for imported hot rolled coil, even as foreign prices have fallen to or below domestic prices.

Metal Bulletin sister publication AMM’s hot rolled coil index has risen to $588.40 per ton ($29.42 per hundredweight), which is lower than AMM's assessment of $590-625 per ton ($29.50-31.25 per cwt) for foreign hot rolled coil cfr port of Houston. “It’s been difficult lately. There is not a lot of demand from the import side in Houston, because the [import] prices are so close to the domestics’ [prices] that people aren’t buying import,” one Gulf Coast trader said. Turkish hot rolled coil, for example, is being offered to Houston at $580-600 per ton ($29-30 per cwt) for January arrival, sources said. “Right now it’s impossible to match [US prices] from Turkey,” a US East Coast trader said. Turkish hot rolled coil is subject to US duties. But even if it was not – duty-unpaid prices are approximately $565-570 per ton ($28.25-28.50 per cwt) – current Turkish offerings would be competitive...

Published

Michael Cowden

October 23, 2017

23:51 GMT