International Steel Prices
October 16, 2013
Foreign Steel Offers Tempting Buyers
Written by John Packard
Steel Market Update (SMU) has been doing some quick channel checks to see what offers are available out there for foreign steel. Our steel market survey, which we began on Monday morning of this week, has been suggesting a higher level of interest in foreign steel due to the higher domestic prices and the spread between domestic and foreign steel pricing.
We are aware that the Russian mills are out offering hot rolled. Based on the suspension agreement the Russian mills are not able to offer hot rolled at less than $540 per metric ton FOB the port in Russia ($490 per net ton + freight from Russia). SMU has learned of one Russian mill offering $590 per net ton and a second offer was seen at $580 per net ton FOB USA port (East Coast or Gulf).
