US hot-dipped galvanized (HDG) coil and cold rolled coil (CRC) prices increased despite drops in lead times. HDG prices rose by $10/short ton to $930/st, while CRC prices jumped by $40/st to $920/st ex-works. Repeatable HDG price offers ranged between $900-950/st, where steel mills have been moving prices since Cleveland-Cliffs announced price increases a month ago.
US HRC prices jumped this week as tight supply and extended lead times help mills achieve their price targets. US HRC Midwest and southern rose by $50/short ton to $750/st ex-works from the prior week and are now up by $90/st from their September lows. Prices remained down by 38pc from a high of $1,200/st in April.
HRC import increased by $20/st to $700/st ddp Houston, driven by greater domestic interest in foreign tons in Asia and Brazil. US plate prices fell by $25/st to $1,405/st ex-works on lower mill offers, with smaller mills reporting as low as $1,340-1,380/st and large mills between $1,440-1,480/st. Buyers continued to complain resale prices are below mill replacement costs, and delivered plate pricing fell by $12/st to $1,438/st.
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