International Steel Prices
CRU: High Raw Material Costs Continue to Support US Pricing
Written by Alexandra Anderson
April 22, 2022
By CRU Prices Analyst Alexandra Anderson, from CRU’s Steel Monitor, April 21
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Alexandra Anderson
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Gap between US HR and landed import prices starts to narrow
The price gap between stateside hot band and landed offshore product narrowed this week. Still, with the 50% Section 232 tariff, most imports remain much more expensive than domestic material.
Little change in price gap between US HR, imports
SMU’s average price for domestic hot-rolled (HR) coil held at $785 per short ton (st) this week, unchanged week on week (w/w). A similar dynamic was seen in offshore markets last week as well.
Price gap between US CR, most imports narrows
Cold-rolled (CR) coil prices ticked up in the US this week, matching a similar trend seen in offshore markets as well.
Domestic HR and offshore import prices continue to diverge
With only a modest decline in US prices, HR imports, on a landed basis, remain much more expensive than domestic hot band.
Price gap between US CR, most imports widens
Cold-rolled (CR) coil prices ticked lower in the US this week, while prices in offshore markets mostly diverged and ticked higher.