Market Segment
January 23, 2022
Written by Michael Cowden
NLMK USA sales slipped in the fourth quarter on expectations of lower steel prices driving buyers to the sidelines.
It was not only lower consumer activity that pushed NLMK USA sales volumes and prices lower, so too did the tariff-rate quota (TRQ) agreement with the European Union – which is expected to result in additional price declines.
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.
Metalformers’ optimism softened in the Precision Metalforming Association (PMA) September Business Conditions Report.
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.
Domestic raw steel output fell to a six-month low last week after hitting a multi-year high one week earlier, according to the latest American Iron and Steel Institute (AISI) figures.
The proposed Hyundai-POSCO steel mill in Louisiana has been approved for up to $1.3 billion in bond financing, according to state records and local media reports.