US Midwest HRC index edges above $950/ton

Published by:Chris Kavanagh<>
7 Apr 2025 @ 21:05 UTC
Hot-rolled coil prices in the US Midwest edged above $950 per short ton on Monday April 7 despite buyer hesitancy in the spot market amid continued economic uncertainty.

Fastmarkets’ dailysteel hot-rolled coil index, fob mill US Midwestwas calculated at $47.80 per hundredweight ($956.00 per short ton) on Monday, up by 2.25% from $46.75 per cwt on Friday April 4 and up by 0.99% week on week from $47.33 per cwt.
Inputs were collected in the buyer and seller sub-indices in a range of $46-50 per cwt, representing deals, offers and general assessments of market activity.
Nucor once again opted to hold its weekly consumer spot price at a base price of $46.75 per cwt ($935.00 per ton) for the steelmaker’s hot-roll products for the remainder of this week, the company announced on Monday.
Sources depicted a slightly slower spot market this week, as buyers continue to digest the implications of the newly implemented global reciprocal tariff policy by Donald Trump’s administration, in addition to their previous enactment of steel and aluminium tariffs in March.
Market participants suspected that the spot market slowdown may persist over the near term amid tariff-induced economic uncertainty.
Lead times are steady at four to six weeks, sources said.
Quote of the day The new tariffs did nothing to bring clarity to the market. Prices are going sideways. Buyers will stay on the sidelines until they have a better understanding of the strategy of the government, a trader source said.