US HRC index slightly up; market seen in holding pattern

Hot-rolled coil prices in the United States have staged a slight comeback following two consecutive weeks of declines, although many market participants were skeptical of how much further prices could climb.

American Metal Market’s hot-rolled coil index rose to $43.21 per hundredweight ($864.20 per ton) on Thursday April 26, up 0.5% from $42.99 per cwt ($859.80 per ton) previously and up 32.4% from $32.63 per cwt ($652.60 per ton) at the beginning of the year.
Lead times continue to average six to eight weeks. Market participants broadly agreed that spot deals have stalled ahead of Tuesday May 1.

Certain exporters had been granted temporary exemptions from the Section 232 tariffs while negotiations with individual countries were conducted. Those exceptions are set to expire on May 1, and - other than one agreement...

Published

Millicent Dent

April 27, 2018

23:07 GMT

New York