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Home > MEPS Steel News - 07.02.2017

NORTH AMERICAN FLAT STEEL PRICES APPROACHING PEAK - MEPS

The upward price trend for North American flat products is expected to come to a halt in the coming months. The MEPS flat product composite price, in January 2017, is more than 50 percent above the figure twelve months earlier.

US and Canadian steel manufacturers, keen to stay ahead of rising raw material expenditure, announced a series of list price increases towards the end of 2016. In the latest edition of MEPS International Steel Review, the company reports that the general consensus view of steel market participants was that North American producers have been successful in passing, a large part of their tabled price hikes, on to their customers, as a consequence of improved market fundamentals.

In the US, competitively-priced imports remain limited, as a result of ongoing trade petitions against foreign suppliers for cold rolled and hot dipped galvanised coil, in particular. Furthermore, MEPS understands that order activity, within the country, has improved following the US election, in November.

However, a reduction in mill input costs is expected to put negative pressure on steel values in the short term. Additional domestic capacity, from the commissioning of the Big River steelmaking operation, will ease supply pressures. Furthermore, import volumes are projected to become more readily available, in the second quarter, with the re-opening of the Great Lakes waterway.
 

 

 

Source: MEPS International Steel Review and MEPS North American Steel Prices

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