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Home > MEPS Steel News - 03.06.2015

US STEEL PRICE ROUNDUP FROM MEPS INTERNATIONAL LTD

Although US hot rolled coil customers were, initially, sceptical regarding the price hike announcements, recent settlements have reflected an increase, according to MEPS. Buyers report that delivery lead times are now well into June and suppliers are pushing for further rises beyond that date.

Hot rolled plate transaction values continue to deteriorate. However, mills report an uptick in demand in recent weeks due to declining inventories and stronger customer needs. Current delivery lead times, however, remain at four weeks. Meanwhile import volumes have slowed.

The negative price trend, for cold rolled coil, has been halted. Local mills have successfully negotiated a rise. Buyers are less keen to purchase from overseas whilst the authorities contemplate trade action. Many market players expect cases to be filed shortly. Service centre stocks are still overbuilt, but are reducing.

US auto demand is stable at a high level. Construction activity continues to improve but remains well below potential. Appliance makers have noticed a flattening in demand as a result of the strong US dollar. Coated steel transaction values reached the bottom in late April and are now moving up.

Sales of beams have still to pick up, despite better signals from the non-residential construction sector. Import availability is plentiful.

Rebar import prices are moving up. However, domestic transaction numbers have declined during recent settlements. Demand from the residential construction market is slow to improve.

Service centre sales of merchant bar have declined considerably compared with 2014 as agricultural and mining demand has fallen away. The domestic mills are carrying surplus stock. Imports from Turkey have slowed in recent months but supplies from Mexico are plentiful.


Source: MEPS International Steel Review - May Issue

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