Final Thoughts
January 13, 2021
Final Thoughts
Written by John Packard
I anticipate next week’s spot hot rolled and other flat rolled steel prices will be higher than what we reported on Tuesday evening (HRC = $1,080 per ton average). We received information from an end user today of hot rolled purchases of $1,140 per ton for end of March/early April production. An order for HR base galvanized was placed at a $64.00/cwt base price. The same end user advised that U.S. Steel quoted $1,350 per ton for HRC (+$210 per ton above order placed). New offers out of Turkey on foreign hot rolled were quoted at $52.00/cwt for late April delivery ($1,040 per ton), which is $100 per ton below the domestic order placed. The spreads from mill to mill and foreign to domestic are crazy right now.
Here are some of the issues Steel Market Update is watching:
