Final Thoughts
September 30, 2020
Final Thoughts
Written by John Packard
Mill lead times are extended, price increase announcements are being made (with ArcelorMittal USA putting a minimum base price on hot rolled out there of $650 per ton and cold rolled and coated at $850 per ton) and mills are holding the line on spot negotiations. Momentum is clearly on the side of the steel mills right now. The question is for how long?
When a top executive of a Midwest-based service center was asked if $650 per ton ($32.50/cwt) hot rolled was a bit much for commercial quality product, the response was, “Probably, but what is too rich when lead times are in January….”
