US prices hold firm, imports remain appealing

SMU’s average price for domestic HR was $1,160 per short ton (st) this week, unchanged vs. last week. In offshore markets last week, while prices diverged, the dynamic between stateside and imported product varied little. And it’s keeping with the trend seen since late April.

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