US CRC, HDG prices jump on 232 tariff frenzy

Cold-rolled and galvanized base prices surged in the United States following buyers' return to domestic mills amid fears of blanket Section 232 tariffs, market participants said.

Value-added prices, while increasing, previously had less momentum than hot-rolled coil prices in part because of greater import competition, sources said. That script has been flipped over the past week. “They [US mills] hadn’t been that strong on cold-rolled and galv... But they’re seeing [order books] strengthen quickly because people they haven’t heard from in ages are coming out of the woodwork and making inquiries,” one Midwest service center source said. The result is that American Metal Market’s price assessment for cold-rolled coil has risen to $48 per hundredweight ($960 per ton), up 6.1% from $45.25 per cwt previously and 14.3% higher...

Published

Michael Cowden

March 09, 2018

21:54 GMT

Chicago