Published by:Rachel McGuire<>
1 Jul 2025 @ 21:22 UTC

US Midwest hot-rolled coil prices increased on Tuesday July 1, ahead of the US holiday despite minimal spot market activity and lackluster demand. Fastmarkets’ daily steel hot-rolled coil index, fob mill US Midwest was calculated at $45.40 per hundredweight ($908 per short ton) on Tuesday, up by 0.51% from $45.17 per cwt on Monday, June 30 and by 0.64% from $45.11 per cwt a week earlier on June 24.
Inputs were collected in the range of $44.50-45.50 per cwt, representing 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 Activity in the US hot band market was subdued ahead of the upcoming Independence Day holiday on Friday, July 4. Market sources reported that pricing for HRC was flat from the prior week and spot activity was thin.
Despite minimal activity, inventories at some service centers have dwindled, one distributor told Fastmarkets.
Sources anticipate demand for steel will continue to slow for the remainder of the summer season. End-user demand from the auto and construction industries will remain suppressed, one trader said, likely due to a contracting US economy.
Lead times are three to four weeks, sources reported.
Quote of the day “The [HRC] side of the house was very quiet once again last week, as it feels like buyers are trying to figure out what to make of the market,” one producer said.