US HRC prices slowly inch toward parity with imports

US hot-rolled coil (HRC) remains more expensive than offshore hot band but continues to move closer to parity as prices decline further. The premium domestic product had over imports for roughly five months now remains near parity as tags abroad and stateside inch down.

US HRC tags edged lower, but could be near an inflection point after Cliffs, Nucor, and ArcelorMittal all “officially” set new target minimums for HR two weeks ago. Even still, the nine-week price cut on US tags erased a $300-per-short-ton (st) gap they had over imported HRC roughly two months ago.

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.

David Schollaert

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