Published by:Rachel McGuire<>
24 Jun 2025 @ 20:45 UTC

Hot-rolled coil prices in the US Midwest rose on higher mill offers, despite sluggish demand prompted by summer maintenance season. Fastmarkets’ dailysteel hot-rolled coil index, fob mill US Midwest, was calculated at $45.11 per hundredweight ($902.20 per short ton) on Tuesday June 24, up by 1.37% from $44.50 per cwt on Monday June 23 and by 0.45% from $44.91 per cwt a week earlier on June 17.
Inputs were collected in the range of $43.90-45.75 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 Demand in the hot band market has slowed amid the start of the summer, when mills often undergo maintenance. Mills are elevating offer levels to push the spot price higher, a source told Fastmarkets, but slower demand will keep prices stable.
Spot market participation was limited, with most buyers continuing to opt for contract volumes, sources said.
A distributor said the conflict among the US, Israel and Iran should not directly impact the domestic HRC market. Mills could try to raise prices further because of instability in the Middle East, the source added.
Lead times are three to five weeks, sources reported.
Quote of the day It’s summertime, things will be slowing down for maintenance outages and retooling, a distributor said. So demand will not be there.