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
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.
CRU Outlook: Global steel sheet prices set to rise, but the near-term uptrend will be limited
Sheet prices are expected to increase in the coming weeks in most markets. However, rising domestic capacity in the US, subdued demand in Europe, and high inventory levels in China and India will limit price near-term uptrend.
Some Asian HR prices theoretically lower than US HR tags despite 50% S232 tariff
Domestic hot-rolled (HR) coil prices ticked down this week after holding flat since mid-August. Offshore prices largely all moved higher week over week (w/w), widening the margin between stateside and foreign product.
CR import price gap widens with US
Cold-rolled (CR) coil prices ticked lower in the US this week, while prices in offshore markets diverged and ticked higher.
Spread between US HRC, imports widens
Domestic hot-rolled (HR) coil prices were flat this week for a third straight week. Offshore prices all moved higher w/w, widening the margin between stateside and foreign product.