International Steel Prices
March 31, 2016
Foreign Steel Market Tightens & Traders Believe Buyers are at Risk
Written by John Packard
When it comes to foreign steel and foreign steel offers, what was true two weeks ago is no longer, according to the trading companies we spoke with over the past 24 hours.
We spoke with a trading company about the light gauge galvanized business and we were told, “Four offers were pulled just last night.” He went on to say, “Hot rolled and scrap are going up in price. It has massive momentum. Increases that were $40 per ton, now they [foreign mills] want another $100 on top of the $40.” He went on to say, “I don’t think I could book tons today even if I offered to pay one hundred dollars more….”
