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Print[ferro-alloys.com]US hot-rolled coil prices moved slightly lower Wednesday as the market split between mills willing to negotiate on pricing and those looking to hold the line at $920/st, according to market feedback.
One mill was heard to be offering HRC at $900/st, however a number of buyers reported quotes from others have not budged from their recent highs. A service center source said he was quoted $920/st for HRC this week by a mini mill producer for mid-August delivery.
"I have not seen any lower numbers for HRC yet, but the market does seem poised to [move lower]," a second service center source said.
Foreign offers were applying some pressure, he said, with current HRC import pricing around $796-$850/st on a delivered duty paid basis. There also seems to be a consensus in the market that prices have hit a peak, sources said.
It has been easier to negotiate with mills on HRC this week, but it is unclear how much they are willing to let prices slip, a domestic trader said.
There are a number of upcoming outages at US mills that could help domestic mills keep HRC supply relatively tight through summer, the second service center source said. CRC pricing is a "mixed bag at the moment," he added, with offers from US mills ranging from $980/st to $1,040/st.
Average lead times at US mills moved slightly lower Wednesday from the week before, with current average HRC lead times at 5.9 weeks, down from 6.1 weeks on July 11, according to S&P Global Platts data. CRC lead times inched back down to 7.4 weeks from 7.6 weeks over the same period, while hot-dipped galvanized sheet lead times moved down to 8.1 weeks from 8.4 weeks.
The combined Platts TSI price index uses a volume-weighted average calculation -- according to TSI's standard -- to determine value on an ex-works Indiana basis.
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- [Editor:王可]
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