Steel Products Prices North America
November 24, 2020
Market’s Struggling with Availability as Demand Outruns Supply
Written by Tim Triplett
Three out of four respondents to Steel Market Update’s market trends questionnaire this week said they expect to see shortages and possible allocation of steel in the next few months. Buyers report that deliveries from all the mills are routinely 2-4 weeks late. Service centers are getting inquiries from other service centers, even competitors, who are desperate to fill holes in their inventories. Most are playing their stocks close to the vest to make sure they have enough material for their regular customers. Many have started placing orders for foreign product, and all are keeping a close watch on the mills for some much-needed new capacity coming online, but except for the new EAF ramping up at Big River Steel, no big announcements yet.
Comments from service center and OEM executives polled by SMU this week reflect the growing seriousness of the short-supply situation:
