Published by:Robert England<>
16 Apr 2025 @ 20:27 UTC

Hot-rolled coil prices in the US Midwest edged lower on Wednesday April 16, amid light trading, as some buyers paused purchasing, sources told Fastmarkets. Fastmarkets’ daily steel hot-rolled coil index, fob mill US Midwest was calculated at $46.65 per hundredweight ($933 per short ton) on Wednesday, down by 0.51% from $46.89 per cwt on Tuesday April 15 and by 2.97% from $48.08 per cwt a week earlier on April 9.
Inputs were collected in the range of $45.00-$48.75 per cwt in the buyer sub-index, representing mill offers and deals heard.
Inputs were rolled over in the seller sub-index due to lack of liquidity.
Heard in the market Sources reported muted spot trading, as some buyers waited for more clarity on tariffs and trade policy.
A consumer reported stable demand with good availability.
Lead times are four to five weeks, sources said.
Quote of the day I still go to the fact that more than enough steel was bought while the price was running up to allow buyers to take a pause, a steel buyer said.