Final Thoughts

I heard this evening that Turkish hot rolled for September shipment was recently booked at an average price of $25.50/cwt CIF, Duty Paid ($510 per ton). Latest offer on Mexican hot rolled $26.50/cwt ($530 per ton) and cold rolled at $31.50/cwt ($630 per ton). The hot rolled numbers make sense and are reasonable against domestic numbers that are below $600 per ton. The cold rolled numbers are out of whack not because the foreign steel is being dumped but rather due to the spread between domestic hot rolled and CR/Coated base prices (over $200 per ton).

I have been speaking with all of the presenters for this year’s Steel Summit Conference. Everyone is fired up for a great conference and the timing appears to be just about right as we try to figure out what the rest of the year holds for the industry as well as calendar year 2017.