05/14/2025 21:30:27 UTC | Market Commentary
Author Fast Webs<“>.> | EN

* Mill lead times at three to four weeks
* Buyers avoid imports due to weakening domestic prices

US hot-rolled coil prices stayed steady May 14 as spot trading was limited with mill lead times reported in early to mid-June.
Platts, part of S&P Global Commodity Insights, assessed the daily TSI US HRC index at $895/st on an ex-works basis, unchanged from May 13.
A Trader reported hearing offers at $900/st EXW and lower from Midwest mini-mills with lead times in mid-June. He also said offers were at $930/st EXW, while tradable value was lower at around $900/st EXW from one Midwest integrated mill with June lead times.
There’s not a lot of difference this week in pricing or activity, the source said, noting he hadn’t seen any end-user segments pick up.
Lead times for HRC were mostly in the early to mid-June timeframe from Midwest mills, the source said.
No one is even looking at imports, the trader said. According to the trader, market participants were of the opinion that domestic prices still had further to go down, especially given that May scrap prices are lowering, and were holding off on placing spot orders.
A Midwest service center source said offers were at $900/st EXW from a Midwest mini-mill with lead times at three to four weeks.
Nothing screams ‘no demand’ like short lead times, the source said.
The source expected spot prices to continue to trend down, given the upcoming summer seasonal demand lull. Some restocking could take place soon from service centers looking to replenish inventory, but the source said they do not expect the activity will do much to stabilize or prop up spot prices.
A second Midwest service center source said mill lead times for HRC were mostly flat week over week as spot activity levels continued to be quiet.