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
US HR prices near parity with offshore imports
US hot-rolled (HR) coil prices declined again, tightening their premium over offshore hot band, and moving closer to parity.
US CR tags slip, still more than 25% above imports
Foreign cold-rolled (CR) coil remains much less expensive than domestic product even as domestic prices continue to decline, according to SMU’s latest check of the market.
US HR premium over imports tightens further
US hot-rolled (HR) coil price premium over offshore hot band has tightened on the back of lower domestic tags, though stateside HR coil remains markedly more expensive than imports.
US CR tags still nearly 30% more than imports
Foreign cold-rolled (CR) coil remains much less expensive than domestic product, according to SMU’s latest check of the market.
US HR premium dips even as stateside tags edge lower
US hot-rolled (HR) coil remains more expensive than offshore hot band, though with a tighter premium as prices stateside and abroad have ticked lower in recent weeks.