US HRC prices draw closer to $600/st amid narrowing supply

摘要

US hot-rolled coil prices inched forward on Sept. 21, as buyers looked for steel and wait on November order books. The daily Platts TSI US HRC index was up by 50 cents to $599.25/st, up approximately $160 since a four-year low in early August. Offer levels continued to firm at $600/st, as buy-side sources searched for needed spot tons. Limited spot availability pressured buyers as their customers were “dying for steel” and “could not find it in October,” a Midwest buyer said. He was able to place an order at $600/st for 5,000 st for October delivery last week. The Midwest buyer noted he was calling in favors with mills but it was for availability and not price.