US prices move higher, imports drawing more attention

SMU’s average price for domestic HR was $1,160 per short ton (st) this week, $15/st higher week over week (w/w). In offshore markets last week, prices diverged, but largely kept the trend seen since late April.

The decisive factor remains the 50% Section 232 tariffs. Still, imports from Europe are at parity with domestic material, while Southeast Asian products remain at a considerable discount. The result comes because a stateside rally coincides with faltering offshore prices.

David Schollaert

David Schollaert is deputy editor-in-chief for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. He can be contacted at david@steelmarketupdate.com or 724-720-1008.