US Midwest HRC index hovers below $900/ton

US Midwest HRC index hovers below $900/ton
Published by:Chris Kavanagh<>
21 May 2025 @ 20:52 UTC

Hot-rolled coil prices in the US Midwest hovered below $900 per short ton on Wednesday May 21 while buyers continue to hold out for signs of improved economic conditions. Fastmarkets’ daily steel hot-rolled coil index, fob mill US Midwest was calculated at $44.86 per hundredweight ($897.20 per short ton) on May 21, up by 0.70% from $44.55 per cwt on Tuesday May 20 but down by 0.27% from $44.98 per cwt on May 14.
Inputs were collected on the buyer sub-index in a range of $42-46 per cwt, representing offers and general assessments of the spot market.
Inputs were rolled over in the seller sub-index due to a lack of liquidity.
Heard in the market Sources noted a slight uptick in spot market engagement, but buyers continue to take a cautious approach to purchasing due to uncertain economic conditions.
Market participants suggested some buyers are awaiting positive news on trade deals to provide economic clarity before committing to spot tonnages.
Lead times were reported to be between three and five weeks.
Quote of the day Market is soft. Many are waiting for better news on trade deals, a trader source said.