US Midwest HRC index slips below $900 per ton
Published by:Robert England<>
14 May 2025 @ 20:29 UTC

Hot-rolled coil prices in the US Midwest slipped below $900 per short ton on Wednesday May 14 for the first time since March 3 amid buyer expectations that prices will continue to fall into the summer, Fastmarkets has learned. Fastmarkets’ daily steel hot-rolled coil index, fob mill US Midwest was calculated at $44.98 per hundredweight ($899.60 per short ton) on Wednesday, down by 1.19% from $45.52 per cwt on Tuesday and by 2.20% from $45.99 per cwt a week earlier on May 7.
Inputs were collected in the buyer sub-index in the range of $41-45 per cwt, representing deals, offers and assessments of the spot market.
Inputs were rolled over in the seller sub-index due to a lack of liquidity and to minimize volatility.
Heard in the market Spot market activity remained muted as buyers that have relied on accumulated inventory make new purchases only as needed.
Buyers said they welcomed the US-UK trade agreement announced on May 8 and a 90-day trade deal with China on Monday, but expected to purchase cautiously until new tariffs and trade policies are finalized with major trading partners.
Demand is expected to enter a seasonal decline during the summer months, sources said.
Lead times are reportedly at three to four weeks.
Quote of the day Customers placed panic buys in March, and I have no doubt they filled their shelves for March, April, and maybe even May. I do think they will start to do some restocking based on what they need, but I do not see that changing the price, a Midwest distributor said.