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    Overseas

    January 21, 2021

    Foreign vs Domestic HRC Price Update: Lower-Priced Imports Tempt Buyers

    Written by Brett Linton

    Foreign steel from almost anywhere else in the world is now cheaper than steel made in the U.S., according to Steel Market Update’s latest foreign vs. domestic hot rolled steel price comparison, tempting more and more buyers to consider ordering imports. With U.S. HRC prices now over $1,100 per ton, foreign HRC prices are theoretically $84-$280 per ton cheaper than domestic steel prices. Recall that domestic mills held record-high price advantages back in August 2020, when foreign steel prices were between $176 and $220 per ton more expensive than domestic steel. This domestic advantage quickly faded in November/December as U.S. prices skyrocketed.

    The following calculation is used by Steel Market Update to identify the theoretical spread between foreign hot rolled steel prices (delivered to U.S. ports) and domestic hot rolled coil prices (FOB domestic mills). This is only a “theoretical” calculation as freight costs, trader margin and other costs can fluctuate, ultimately influencing the true market spread. This compares the SMU U.S. hot rolled weekly index to CRU hot rolled weekly indices for Germany, Italy and Far East Asian ports.

    Brett Linton

    Brett Linton is a digital operations analyst for Steel Market Update, where he began his career. Linton has been in the steel industry since 2010. He has held roles as a category manager and strategic insights director at Reibus before returning to SMU in 2024. He is a graduate of The University of North Georgia with a degree in Finance and Accounting. Brett can be reached at brett@steelmarketupdate.com or 724-314-0179.

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