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    Overseas

    May 4, 2023

    US Sheet Prices Remain Higher Than Offshore Hot Band

    Written by David Schollaert

    Hot-rolled coil (HRC) imports remain attractive to US buyers despite the current price correction in the domestic market, according to SMU’s latest foreign vs. domestic price analysis. Domestic tags are still significantly more expensive than imported product, namely because offshore steel prices are declining concurrently with US tags.

    The price advantage domestic HRC had enjoyed over imported material as recently as mid-February turned negative in a hurry in response to US mill tag hikes. And while domestic prices have turned and begun to decrease over the past three weeks, the rapid and extensive rally in Q1 is likely to keep US hot band well ahead of offshore HRC for the time being.

    David Schollaert

    David Schollaert is deputy editor-in-chief for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. He can be contacted at david@steelmarketupdate.com or 724-720-1008.

    Read more from David Schollaert

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