Product
May 9, 2019
Written by Paul Lowrey
By Paul Lowrey
Editor’s note: Paul Lowrey is an industry consultant and president of Steel Research Associates, LLC. He will be a featured speaker at the upcoming Steel Market Update Steel Summit Aug. 26-28 in Atlanta. Click here for more information and to register for the summit.
Sheet and plate prices continued to tick mostly higher this week amid a supply squeeze that shows no signs of loosening its grip on the US market.
The current plate market squeeze has been driven by improved demand and heightened import barriers, including 50% Section 232 tariffs. But the timing of fall outages—even if they were planned—is exacerbating the supply crunch.
U.S. Steel held a ceremonial groundbreaking on Monday for its new $475-million quench-and-tempering facility at its Fairfield Tubular Operations in Alabama.
The scrap market for October is looking for direction as some participants on both sides of the furnace are indicating scrap prices are poised for an increase.
SMU’s latest Flat-Rolled Steel Buyers Survey shows that in a tight US market marked by long lead times, low inventories, and rising prices, foreign products continue to gain the interest of domestic buyers.