United States hot-rolled coil prices hit a 10-year peak in early July of this year.
Now, according to mill time schedules and market participants, lead times are approximately three to six weeks.
Although the markets have slowed down recently, there could be a change now that US midterm elections are completed.
The market usually slows between Thanksgiving (November 23rd this year) to New Year on January 1.
Most market participants expect demand and prices to increase the first quarter of 2019. The market is expected to be strong in the new year.
Brazil Agrees To Quota
Adam Osborn, President of Ace Steel Supply, recently discussed a new Section 232 development on Brazil steel.
“Brazil had steel tariffs lifted when they agreed to a quota. Steel tariffs on Brazil were recently lifted when they agreed not to bring in more steel than the quota system allowed for.
This has opened some supply with them. It’s also good to understand they do still have some anti-dumping duties on them and those are all still in place.
Any tariffs that a country has is on top of existing anti-dumping duties, which were on those countries already.”
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