Published by:Chris Kavanagh<>
2 Jun 2025 @ 21:27 UTC
Hot-rolled coil prices in the US Midwest slipped slightly on Monday June 2, with spot demand for hot band continuing to be lukewarm as the slowed summer period progresses.Fastmarkets’ dailysteel hot-rolled coil index, fob mill US Midwestwas calculated at $43.25 per hundredweight ($865 per short ton) on Monday, down by 0.44% from $43.44 per cwt on Friday and by 0.39% from $43.42 per cwt a week earlier on May 27.
The index was not calculated on May 26 in observance of the Memorial Day holiday in the US.
Offers were collected in both the buyer and seller sub-indices in the range of $42.50-43.50 per cwt.
Nucor held its weekly consumer spot price announcement once again on Monday at a base price of $43.50 per cwt for its hot-rolled products for the remainder of the week.
Market participants continued to depict sluggish spot demand for hot band as the market progresses into the slowed summer period.
Sources suspect buyers will continue to approach the spot market with caution, opting to buy only as needed outside of contracted volumes.
Lead times are at three to five weeks, according to market participants.
Quote of the day As a result of these new duties, I expect US prices to increase substantially, a trader source said.