<article><p class="lead">US hot-rolled coil (HRC) prices were mostly unchanged this week as mills kept offers high and a widespread winter storm tightened supply.</p><p>The <i>Argus</i> weekly domestic US HRC index slipped by $10/st to $1,240/st ex-works Midwest this week. Lead times fell to 6-8 weeks from 7-8 weeks.</p><p>Prices were mostly flat on high offers from mills amid tight supply. </p><p>The winter storm that ripped across much of the central US in the last week disrupted steel supply in many areas and could potentially cut into available supply slated for April delivery.</p><p>The US HRC price has mostly plateaued in recent weeks, driven by the persistent shortage in supply and weakening demand. Many service centers are ensuring purchased steel has an end user lined up, while mills still have limited spot tons available.</p><p>Credit lines are being stretched thin with prices nearly triple where they were in August. One mill said they denied a service center a request to buy tons due to their lack of available credit. </p><p>The spread between #1 busheling scrap delivered US Midwest mills and HRC selling prices fell by 1.2pc to $800.27/st from $810.27/st the week before. The spread is more than double the $326/st recorded a year ago.</p><p>The domestic US cold-rolled coil (CRC) assessment increased by $10/st to $1,400/st, while the hot-dipped galvanized (HDG) coil assessment rose by $10/st to $1,395/st. Lead times for CRC rose slightly to 10 weeks from 9-10 weeks, while HDG lead times shrank to 9-11 weeks from 10-11 weeks.</p><p>HRC import prices into Houston were flat at $1,000/st ddp.</p><p>The CME HRC futures market continued to rise in the past week, but still shows backwardation. For April, prices increased by $85/st to $1,225/st, while May futures prices jumped by $61/st to $1,121/st. June prices increased by $46/st to $1,040/st, while July prices rose by $48/st to $973/st. August futures prices are at $938/st.</p><h3>Plate</h3><p>The <i>Argus</i> weekly domestic US plate assessment was flat at $1,100/st, while lead times increased their spread to 5-7 weeks from 6 weeks.</p></article>
