Foreign steel interest rises as buyers confront tight market, higher substrate costs

North American steel buyers are signaling stronger interest in foreign material amid a tight market and rising global substrate costs, which are complicating purchasing decisions.

A West Coast-based trader with whom SMU spoke described a volatile but active import market. He said Korean mills have suspended some offers due to the Iran crisis and rising domestic demand. Additionally, he reported limited competitive supply of bare galvanized from Korea, Vietnam, Indonesia, and Thailand due to vessel shortages and market disruptions.