HRC Supply Watch: Mill Utilization and Import Cover Keep Pricing Power

FACT: Rzzro's price feed shows CME HRC at $3,378.00 $/st and SHFE HRC at $3,378.00 CNY/mt. The 20-day range for CME HRC is $3,378.00-$3,428.00.

ESTIMATE: The supply/demand channel to watch is U.S. mill utilization against import cover. China steel margins can pressure exports, but domestic mill discipline still matters.

RZZRO VIEW: buyers should not assume flat CME HRC means no risk. The risk is a sudden repricing if mill utilization rises or import cover tightens.

The procurement signal is to keep coverage staged until mill pricing and spreads confirm the direction.