Hot Rolled Steel Coil Prices Rose Slightly in The Midwest Of The United States

On April 13, the US Midwest hot rolled steel coil ex-factory price index was 1302.3 USD / ton, up slightly by 1.3 USD / ton week-on-week.

According to the US market, the current delivery time of hot rolled steel coil orders in the Midwest region is 8 to 10 weeks. Recently, the mainstream steel mill Cleveland Cliff in the United States raised its hot rolled steel coil base price to 1433.3 USD / ton, but this price has not actually been traded, the vast majority of buyers are currently unwilling to accept the price of more than 1323 USD / ton, and there are no other mainstream steel mills to follow up the hot rolled steel coil base price.

Some market participants said that the current domestic hot rolled steel coil price in the United States has basically reached the peak price, and the room for another rise is limited, and it is expected that the overall price will show a downward trend in the next few months, for specific reasons: 1) In May, the new production capacity of hot rolled steel coil in some domestic steel mills in the United States will be released; 2) scrap prices are expected to fall; 3) It is not far from the traditional demand off-season summer; 4) The US manufacturing PMI was 46.3% in March, which has contracted for five consecutive months; 5) The expectation of recession has led to a decline in people’s willingness to consume.

Note: USD 1302.3 = RMB 8921 (based on the exchange rate of RMB to US dollar on April 14)