International Steel Prices
December 1, 2016
Written by John Packard
Today is Monday, please allow us to update you on the China steel market (Nov 21 – Nov 27, 2016) as usual as follows:
In the past week, the market still kept rising heavily. It is out of our expectations as many non-market factors pushed spot prices to stand at very high levels.
The spread US hot-rolled coil (HRC) prices had held over offshore product for much of the year has almost evaporated, according to SMU’s latest foreign vs. domestic price analysis.
The spread between US and offshore hot-rolled coil (HRC) prices continues to narrow as domestic tags have declined further, according to SMU’s latest foreign vs. domestic price analysis.
The spread between US and offshore hot-rolled coil (HRC) prices has narrowed to its lowest level since mid-February, when domestic prices were still trending upwards, according to SMU’s latest foreign vs. domestic price analysis.
The US hot-rolled coil (HRC) premium over offshore product declined this past week, as prices abroad moved up while domestic tags declined, according to SMU's latest foreign vs. domestic price analysis.
The US hot-rolled coil (HRC) premium over offshore product declined this past week, as prices abroad moved up while domestic tags declined, according to SMU’s latest foreign vs. domestic price analysis. HRC tags stateside declined $20 per ton vs. the prior week, slipping to their lowest level since mid-February. Domestic prices are now down $290 […]