Steel Products Prices North America
February 27, 2018
SMU Price Ranges & Indices: Supply Concerns Pressure Pricing
Written by John Packard
The market is moving very quickly now as issues of supply begin to raise their ugly heads. The issues at California Steel Industries (CSI) have spooked the market and steel mills are abondoning the process of announcing price increases prior to raising prices. In reality, prices have already gone up $50 per ton from the $750 per ton guidance in the last announcement made by ArcelorMittal USA. The mills are already collecting $800, and we learned from a steel buyer today that Nucor is now asking $820 per ton for spot hot rolled coil. We are quickly approaching a market where you may see Steel Market Update adjust our price range and averages multiple times during the course of a week to keep up with the changes being made by the steel mills.
Steel buyers need to stay awake and stay close to their suppliers, both foreign and domestic. In SMU’s opinion, you need to be careful what information you are consuming and make sure you rely on trustworthy sources (like SMU).
