US steel sheet import prices slip; buyers wary

Prices for imported flat-rolled steel into the United States are falling amid questions about whether the market has bottomed or might see further declines.

Hot-rolled Fastmarkets AMM’s price assessment for imported hot-rolled coil slipped to $650-700 per short ton ($32.50-35 per hundredweight) on Wednesday January 9 from $660-720 per ton previously. That range represents offers for material from South Korea, Egypt and Argentina for delivery as soon as March to Houston-area docks, sources said. South Korean material is subject to a volume quota under Section 232, and therefore is exempt from the 25% tariff applied to steel from most other origins. Relatively few offers are being made, and buyers are scarce because they are leery of committing to imports - and the longer lead times that come with them - in the face of falling US prices. Some...

Published

Michael Cowden

January 10, 2019

23:17 GMT

Chicago