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Home > MEPS Steel News - 07.06.2016

US STEEL MARKET ROUNDUP FROM MEPS

US flat product selling figures continued to advance significantly, in May, as domestic steelmakers successfully filed trade cases, giving local producers an opportunity to raise prices with little resistance.

In the latest edition of the International Steel Review, MEPS reported that hot rolled coil prices, in the US, surged by 18.5 percent, compared with those in last month’s report. Availability of material has tightened, especially to non-contract customers. Local producers are reportedly controlling order entry by introducing quotas for the remainder of the quarter.

US transaction values for hot rolled plate rose sharply, in May. Cold rolled coil figures surged by 18.2 percent, compared with those one month ago. Market participants’ remark that a number of local producers have closed their order books as delivery lead times have been pushed out to between 10 and 12 weeks. Offshore supply options are also limited due to ongoing trade cases.

Furthermore, the availability of hot dipped galvanised material is almost exclusively for contract customers, who are reportedly ordering to their maximum allocation limits.

However, MEPS predicts that some of the price increases secured, by US steelmakers, since the start of the year could evaporate, in the near term. If domestic selling prices continue to rise, local producers are likely ‘leave the door open’ for buyers to find new import sources, that are not covered by the trade cases.


Source: MEPS International Steel Review - May 2016 Issue

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