Published by:Alesha Alkaff<>
28 Apr 2025 @ 20:06 UTC

Hot-rolled coil prices in the US Midwest edged upward on Monday April 28, with mills reportedly keeping offer levels elevated despite a reportedly inactive hot band market.

Fastmarkets’ daily steel hot-rolled coil index, fob mill US Midwest was calculated at $46.75 per hundredweight ($935 per short ton) on Monday, up by 0.71% from $46.42 per cwt on Friday April 25, but lower by 1.70% from $47.56 per cwt a week earlier on April 21.
Inputs were collected in the range of $45.00-48.75 per cwt in both the seller and buyer sub-indices, representing offers and assessments of the general spot market.
Heard in the market Nucor kept its weekly consumer spot price announcement on Monday to a base price of $46.50 per cwt for the steelmaker’s hot-roll products for the remainder of the week, unchanged from the previous week.
The hot band market has reportedly been stagnant, with Midwest HRC prices remaining in the range of $46-48 per cwt since March 10.
The current stillness in the market and the uncertainty of the near-term trajectory are likely to persist, sources said.
While buyers are purchasing material on an as-needed level, some mills are holding firm on their offer levels, sources said.
Lead times have been reported at four to six weeks.
Quote of the day It feels like everyone is waiting for some sign as to what direction things are supposed to go. It feels like flat might be our future for the next few weeks, a mill source said.