Steel Products
March 1, 2013
Written by John Packard
Steel buyers are scratching their heads while steel mills begin to line up announcing identical $50 per ton price increases on all flat rolled products.
AK Steel was the first to follow U.S. Steel when they put out a press release advising their customers of their intention to raise spot prices by a minimum of $50 per ton, effective immediately with all new orders.
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It has been a crazy 2024 so far for hot-rolled coil (HRC) futures!!! “It’s not crazy, it’s hot rolled.” This chart shows the steeply backwardated Midwest HRC futures curve on Jan. 3 plummeting between $186 to $241 in the front three months, evolving into the curve six weeks later on Feb. 12. CME hot-rolled coil […]
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Though steel prices continue to drop, more buyers are holding off on finalizing transactions.