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
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.