Steel Products Prices North America
Distributor Spot Prices No Longer Rising
Written by John Packard
July 23, 2016
Service centers support for higher spot prices has deteriorated over the past couple of months according to our latest survey results. Manufacturers reported distributors as backing away from raising spot prices on flat rolled products. This is a big change from what they were reporting just one month ago when 78 percent of the manufacturers reported service centers increasing spot pricing. Last week that percentage dropped to 19 percent. At the moment manufacturers are reporting spot prices as being stable.
Manufacturers were not the only ones who recognized that there has been a shift in the service center spot market. Service centers also reported that the push for ever higher spot prices has lost its luster and stability is now the name of the game.
The question is for how long can price stability last? As you review the two graphics one thing should catch your eye. Its seems that two to two and a half months is about as long as price stability can last.
John Packard
Read more from John PackardLatest in Steel Products Prices North America
SMU price ranges: Flat-rolled balloon continues to leak
Sheet and plate prices were flat or lower again this week on continued concerns about demand and higher production rates among US mills.
HRC vs. busheling spread narrows in August
The price spread between prime scrap and hot-rolled coil (HRC) narrowed in August, according to SMU’s most recent pricing data.
SMU Price Ranges: Market drifts lower still
All five of SMU's steel sheet and plate price indices declined this week, falling to lows last seen in February.
Discontentment brews in plate market with flat, status-quo pricing
Sources in the carbon and alloy steel plate market said they are less discouraged by market uncertainty resulting from tariffs or foreign relations, but are instead, eager to see disruption to the flat pricing environment.
Nucor lowers HR coil spot price by $15/ton
Nucor has implemented a double-digit price decrease on spot hot-rolled (HR) coil for the second consecutive week.