Sheet
March 22, 2024
Written by Juliana Guarana
APAC steel prices are likely to bottom out in the near term as seasonally higher demand coupled with production cuts may support prices. In the EU, prices are likely to remain under pressure, while fresh price increases are expected in the US.
SMU’s latest Flat-Rolled Steel Buyers Survey shows that in a tight US market marked by long lead times, low inventories, and rising prices, foreign products continue to gain the interest of domestic buyers.
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.
Nucor said on Monday, Sept. 21, that its consumer spot price (CSP) for hot-rolled (HR) coil will be $1,210 per short ton (st) this week, a $10/st increase from a week earlier.
The Commerce Department has found high dumping rates of Chinese tin mill products in the US market.
The results of the latest SMU flat-rolled market survey are now available on our website to all premium members.