Hot-rolled imports cool as cold-rolled heats up

Sep 27, 2013 | 04:28 PM | Catherine Ngai

Tags  steel prices, hot-rolled sheet, cold-rolled coil, import market, steel traders, India steel, Port of Houston imports, Catherine Ngai

NEW YORK — While foreign hot-rolled coil continues to drag its feet in the U.S. market, interest in imported cold-rolled coil might reignite with new offers from India.

Since last year, traders and buyers have indicated that low domestic hot-rolled coil prices coupled with lackluster demand and an amended Russian suspension agreement have made selling hot-rolled coil extremely difficult stateside.

"No one is importing hot-rolled (coil) because of the same situations and too many anti-dumping cases," one trader said. "Apart from the Nafta (North American Free Trade Agreement) countries, there’s so little coming from elsewhere."

Sources this past week reported hot-rolled import deals into the Port of Houston at $580 to $600 per short ton ($29 to $30 per hundredweight) vs. domestic prices in the South closer to $630 to $640 per ton ($31.50 to $32 per cwt) and $640 per ton in the Midwest.....

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