ArcelorMittal and USS-Posco Industries, along with other domestic mills have increased flat-rolled steel prices. The increases were placed on hot-rolled, cold-rolled and coated flat-rolled steel.
Major US flat-rolled steel suppliers also announced increases. Nucor, U.S. Steel and California Steel Industries were among those to raise prices.
It is yet to be seen whether these prices affect the marketplace. The increase might be an effort by mills to stabilize prices.
HRC prices are flat to down. And lead times are three to five weeks.
Prices should remain stable through the fourth quarter, then increase in the first quarter because of strong demand, high scrap prices and low import supplies.
Imports should stay flat as long as Section 232 tariffs and quotas are in place.
Market analysts see the outlook as stable and positive. There is a balanced supply and imports are stable. In addition, steel will benefit from Trump’s planned infrastructure spending. Also, possible Section 232 quotas and product exemptions will help.
Further support for pricing comes from labor tensions at U.S. Steel and ArcelorMittal. Although a resolution is more likely than a strike, the United Steelworkers union has mentioned possibility of work stoppage.
Certainly, should US mills increase prices much higher, some foreign prices are low enough that even with the 25% tariff, there will be competitive offers for domestic buyers.
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