Some US flat-roll import prices follow domestic market up

The flat-rolled steel import market was mixed on Wednesday January 8, with some products rising sharply due to gains in the domestic market while others were quiet following no immediate improvement in steel demand after the December holiday lull, market participants said.

Entering the first full work week following the Christmas and New year holiday break, a number of domestic steelmakers announced a fresh round of price increases.
Nucor led this fifth round of hikes, raising prices by at least $40 per short ton ($2 per hundredweight), to put domestic mills' increases at a cumulative $190 per ton since late October.
ArcelorMittal had initiated the first round of price increases on October 24, when Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at more than three-and-a-half-year low of $23.15 per cwt ($463 per ton). 
If that price was the starting point, it means that domestic mills should be seeking at least $653 per ton currently. 

While sources indicated that rising scrap prices lend support to the latest round of sheet price increases, most agreed that this is being counterbalanced by still-weak demand....

Published

Muyao Shen

January 09, 2020

23:05 GMT

New York