US South HRC index slips near $910 per short ton
Published by:Chris Kavanagh<>
16 May 2025 @ 07:15 UTC

Hot-rolled coil prices in the United States South region slipped near $910 per short ton on Wednesday May 14, mills continuing to adjust offers lower amid cautious buying behavior, sources told Fastmarkets. Fastmarkets’ weekly steel hot-rolled coil index, fob mill US South was calculated at $45.59 per hundredweight ($911.80 per short ton) on Wednesday, down by 0.85% from $45.98 per cwt on Wednesday May 7.
Inputs were collected in both the buyer and seller sub-indices in a range from $43.75-47.50 per cwt on Wednesday, representing deals, offers and general assessments of market activity.
Fastmarkets’ daily steel hot-rolled coil index, fob mill US Midwest was calculated at $44.98 per cwt on Wednesday, down by 2.20% from $45.99 per cwt the week prior on Wednesday May 7. On May 12, steelmaker Nucor lowered its consumer spot price for hot-rolled products to a $45.00 per cwt ($900 per ton) base for the remainder of the week, down by 1.10% from $45.50 per cwt ($910 per ton) the week prior.
Steel mills have been lowering offering prices in recent weeks in response to stagnant spot demand, sources said.
We are seeing things decline slowly, but they continue to decline. With [prices dropping], people will sit out and buy only what they need, a service center source said.
A second service center source added, futures [prices are] lower and everyone is holding off, a second service center source said.
Market participants credited economic uncertainty fostered by evolving tariff policies for slowing down buying interest.
Demand is not recovering. I fear that all the tariff back-and-forth has just stalled everything out, not helped it, the first service center source said.
Some market participants suggested the latest offering price cuts may not be enough to entice demand.
Mills may want $900, but I doubt very few buyers [will buy] at that [level], the second service center source said.
Lead times have been reported at four to five weeks.