US South HRC index continues to hold near $910 per short ton
Published by:Chris Kavanagh<>
23 May 2025 @ 06:23 UTC

Hot-rolled coil prices in the US South continued to hover near $910 per short ton on Wednesday May 21, with spot buyers largely remaining on the sidelines over the recent week. Fastmarkets calculated its weekly steel hot-rolled coil index, fob mill US South at $45.48 per hundredweight ($909.60 per short ton) on Wednesday May 21, down by 0.24% from $45.59 per cwt on Wednesday May 14.
Inputs were collected in both the buyer and seller sub-indices in a range from $44.00-46.00 per cwt on Wednesday, representing deals, offers and general assessments of market activity.
Fastmarkets calculated its daily steel hot-rolled coil index, fob mill US Midwest at $44.86 per cwt on Wednesday, down by 0.27% from $44.98 per cwt the week prior on Wednesday May 14. On May 19, steelmaker Nucor lowered its consumer spot price for hot-rolled products to a $44.00 per cwt ($880 per ton) base for the remainder of the week, down by 2.22% from $45.00 per cwt ($900 per ton) the week prior.
Despite lower mill offering levels, buyers have not yet been incentivized to return to the spot market in a significant way.
We have not negotiated anything lately as we have little need to buy, a service center source said.
Market participants are hopeful for trade deal resolutions to provide economic clarity and promote buying activity.
In the interim, buyers continue to approach the spot market with caution, purchasing only on an as needed basis.
Some sources suggest dwindling inventories may force buyers back into the spot market in the near term.
Demand is still not great, but inventories are being reduced, a steel mill source said.
Lead times have been reported at three to five weeks.