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...