Steel Products Prices North America
August 8, 2017
SMU Price Ranges & Indices: Where Are We Going from Here?
Written by John Packard
Flat rolled steel prices remained range-bound on most items for yet another week. We picked up a couple of points of weakness in coated products, but they seem to be isolated in nature. Many of the steel buyers are reporting the mills (especially Nucor) are talking up the idea of a price increase on flat rolled – and soon. NLMK has been telling some of their customers to expect up to $40 per ton by the 1st of September. The buyers who have been speaking to Nucor are referencing numbers closer to $25 to $30 per ton.
As we have reported elsewhere in tonight’s issue of Steel Market Update, there are opinions that prices will go lower from here. One of our sources told us today, “I don’t have anything [orders] to give them [steel mills] at that number [just lowered by one mill]. I can’t imagine prices going anywhere but down.”
