Final Thoughts
August 19, 2021
Final Thoughts
Written by Tim Triplett
Steel Market Update’s check of the market this week shows HRC setting a new record at $1,955 per ton, just a stone’s throw from a $2,000 mark that was once unimaginable but now seems inevitable. As one observer opined: “I don’t expect to see any actual easing until we get to $2,000 a ton.”
Very few of the steel executives responding to SMU’s questionnaire this week reported any increase in available tons or any easing of spot pricing. “We remain either on strict allocation or getting no-quoted. We’re definitely watching the automotive/microchip situation closely to see if more tons appear in the spot market,” said one source.
