Fastmarkets AMM’s price assessment for imported hot-rolled coil slipped to $650-700 per short ton ($32.50-35 per hundredweight) on Wednesday January 9 from $660-720 per ton previously.
That range represents offers for material from South Korea, Egypt and Argentina for delivery as soon as March to Houston-area docks, sources said. South Korean material is subject to a volume quota under Section 232, and therefore is exempt from the 25% tariff applied to steel from most other origins.
Relatively few offers are being made, and buyers are scarce because they are leery of committing to imports - and the longer lead times that come with them - in the face of falling US prices. Some...