Steel Products Prices North America
March 6, 2014
Dead Cat Bounce..?
Written by John Packard
Steel Market Update has become aware of price negotiations on benchmark hot rolled within the past couple of weeks which took base prices below $600 per ton ($30.00/cwt). We have also learned of situations at two mills which took light gauge galvanized product below $36.00/cwt base pricing. In both cases, the offers were for large tons (tens of thousands of tons for hot rolled) or were only available to fill quick holes that may have developed at the mills in question.
Because of the size of the hot rolled offers, Steel Market Update chose not to reference them in our most recent price range and averages. We are being told the deals no longer exist.
