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US hot-rolled coil index up 70% in first half of 2021
The spot price for hot-rolled coil in the United States has risen stratospherically in the first six months of 2021, and, contrary to initial expectations, a reversal will not take place until next year, sources said.
Fastmarkets’ daily steel hot-rolled coil index, fob mill US reached an all-time high of $87.49 per hundredweight ($1,749.80 per ton) on Thursday July 1, up by 70% from $51.50 per cwt on December 31, 2020. It set three fresh record highs during the week. During a panel at Fastmarkets' Steel Success Strategies Industry Briefing 2021, Sajjan Jindal, chairman and manager director of JSW Group, noted the structural changes in the global economy that support a “new normal” in steel prices. “[Steel] prices may remain elevated, and I think a new normal has been created," Jindal said on June 23.


US HRC index tops $87/cwt for 2nd day in row
Hot-rolled coil prices in the United States topped $87 per hundredweight for a second consecutive day, with mills still unable to meet surging demand, market participants said.
Fastmarkets’ daily steel hot-rolled coil index, fob mill US was calculated at $87.74 per cwt ($1,754.80 per ton) on Friday July 2, up 0.29% from $87.49 per cwt on Thursday July 1 and up 3.54% from $84.74 per cwt on June 25. Inputs were received across all three sub-indices in a range of $85-91 per cwt, representing deals, mill offers and general assessments of spot market prices.