US STEEL PRICE ROUNDUP FROM MEPS
According to MEPS, US selling figures for hot rolled coil
declined for the second successive month, in August. Delivery lead times are
reported to be between two and four weeks, as domestic demand is weak. Market
participants noted that activity is expected to pick up, in the near term, as
steel buyers replenish low stock levels.
Hot rolled plate transaction values reduced significantly, in August, compared
with those in July. Delivery lead times are as short as four weeks, as demand
from the agriculture, heavy equipment and energy sectors remains sluggish.
Producers are offering discounted prices to secure orders and protect market
A number of market participants noted that cold rolled coil producers were
determined to retain list prices at July levels, despite market activity being
quiet because of the traditional summer slowdown. Delivery lead times remain at
between eight and ten weeks with a number of domestic mills reporting full order
books to November/December. Competitively-priced offers from suppliers in
Vietnam and Italy were reported, this month.
Coated coil selling figures, in August, are similar to those in our previous
report. Despite the traditional summer slowdown, a number of steel buyers
reported that local producers were able to conduct the majority of their
business at current price levels. Domestic availability of hot dipped galvanised
material remains tight, especially for non-contract customers.
In the US, market participants indicated that wire rod transaction values were
mirroring scrap costs, with little or no movement on pricing, over the past four
weeks. Buyers of mesh quality wire rod remarked that competitively-priced
offshore material, particularly from Turkey and Switzerland, was readily
available at the ports.
Beam producers maintained current selling figures despite import prices slightly
softening, in recent weeks. Offshore material, particularly from Europe, is
readily available at US ports. Domestic demand is firm.
Rebar transaction values were steady, in August, for the third successive month,
as domestic demand remained relatively sluggish. Import prices, from Taiwan and
Turkey, softened, in recent weeks.
Steel Review - August 2016 Issue
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