International Steel Prices
Benteler Halts Sale of Tube Firm to Tenaris
February 7, 2023
Tenaris SA said Feb. 5 that Benteler North America Corp. has terminated the sale of Benteler Steel & Tube Manufacturing Corp. to Tenaris, effective immediately.
Luxembourg-based Tenaris had announced in July the intended acquisition of the steel pipe producer in a deal valued at $460 million.
By Ethan Bernard, ethan@steelmarketupdate.com
Latest in International Steel Prices

Spread between US HRC and imports holds
Domestic hot-rolled (HR) coil prices were flat this week, while offshore prices varied week over week (w/w). The price margin between stateside and foreign product was little changed as a result.

Spread between US HRC and imports widens on S232
HRC prices in the US eroded further last week, while offshore prices varied week over week (w/w), widening the price margin between stateside and foreign product.

CR import price gap widens with US
Cold-rolled (CR) coil prices continued to decline in the US this week, while prices in offshore markets diverged and ticked higher.

S232 widens the spread between US HRC and imports
Hot-rolled (HR) coil prices in the US declined again last week, while offshore prices ticked higher again week over week (w/w).

US HR prices and imports diverge, 50% S232 drives the gap
Hot-rolled (HR) coil prices in the US declined again last week, while offshore prices increased week over week (w/w).