Final Thoughts
February 24, 2021
Final Thoughts
Written by Tim Triplett
Steel prices will likely stay elevated until supplies catch up with demand, say the experts, so is there enough foreign steel on the way here to make a difference?
Two out of three respondents to a recent SMU survey said foreign offers are very competitive versus domestic prices. With steel prices in the U.S. at record highs–SMU puts the current price for hot rolled at $1,210 per ton–foreign mills have been able to offer deals priced lower by $200 per ton or more. But they come with months-long lead times and the risk that domestic prices will be cheaper by the time the steel arrives. Yet, a growing number of SMU readers tell us they are taking the plunge and placing foreign orders—if only to make sure they will have enough steel to meet their customers’ basic needs.
