Published by:Chris Kavanagh<>
23 Jun 2025 @ 21:34 UTC

Hot-rolled coil prices in the US Midwest slipped to $890 per short ton on Monday June 23 as hot band spot buying interest has cooled off during the summer months. Fastmarkets’ daily steel hot-rolled coil index, fob mill US Midwest was calculated at $44.50 per hundredweight ($890.00 per short ton) on Monday June 23, down by 0.98% from $44.94 per cwt on Friday June 20 and 0.40% lower than $44.68 per cwt a week earlier on June 16.
Inputs were collected in both the buyer and seller sub-indices on Monday in a range of $43-46 per cwt, representing offers and assessments of the general market.
Nucor held its weekly consumer spot price announcement on Monday at a base price of $45 per cwt for the steelmaker’s hot-roll products for the remainder of the week.
Market participants illustrated a dormant spot market as market uncertainty continues to curb spot buying interest.
A combination of uncertain tariff policy clouding the future of the market and the typical summer slowdown may keep a lid on spot hot band purchasing over the near term, sources said.
Lead times remain at approximately three to five weeks, according to sources.
Quote of the day Prices seem to be inching up weekly, but demand is weak or stagnant as the US mills increase production, a trader source said.