Analysis
July 7, 2022
Written by Michael Cowden
There has been a broad consensus that wherever the current market bottoms will be higher than pre-pandemic norms. But as our latest survey results indicate, estimates of where that bottom is keep moving lower.
About half of respondents to our latest survey think prices will be $800-899 per ton two months from now. In late June about a half predicted they would be $900-999 per ton in roughly the same timeframe.
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 domestic plate market is showing few signs of relief for steel buyers. Lead times are stretching well beyond seasonal norms, spot availability has all but evaporated, and mills are drawing hard lines on contract volumes heading into 2027 negotiations.
SSAB Americas announced immediate changes to pricing extras on select products, according to a letter sent to customers Friday morning.
Kibar Americas said production has started at its aluminum plant in Fairmont, W.Va., where it will manufacture products for the HVAC, packaging, automotive and industrial sectors.
The phrase “Fortress North America” seems to resurface anytime US, Canada, and Mexico trade negotiations roll around. The idea of an economic Fortress North America burst onto the scene in the late 1980s and early 1990s in the lead up to NAFTA. In theory...