Steel Products Prices North America
December 8, 2022
Written by Jack Marshall
The following article on the hot-rolled coil (HRC), scrap and financial futures markets was written by Jack Marshall of Crunch Risk LLC. Here is how Jack saw trading over the past week:
Hot Rolled
Sheet prices slipped again, continuing a trend of lower week-over-week tags that began in mid-July.
Sheet prices slipped for the third consecutive week on continued discounts from certain mills for larger buyers.
US raw steel production inched up for a third consecutive week, according to data released by the American Iron and Steel Institute (AISI) on Monday, July 31. Steel production in the US increased to 1,749,000 net tons for the week ended July 29, up 0.5% from 1,741,000 net tons the previous week. US production is 1.6% higher […]
The LME aluminum three-month price is moving higher again, closing the week on the morning of July 28 at $2,215 per tonne. The previous day, the price dropped sharply at the close and briefly moved below $2,200/t. The next day the price was seen increasing again, suggesting support at $2,200/t has once again been regained. […]
Mexican steelmaker Ternium could benefit if the US places new steel tariffs on Mexico, according to New York-based investment firm Morgan Stanley. “First, if the US were to levy tariffs on steel imports from Mexico, we believe the government of Mexico would likely respond with a similar measure. Second, due to its product mix, Ternium would likely benefit […]