United States hot-rolled coil prices hit a 10-year peak in early July of this year.
Although we have seen some price declines, it looks like support for steel prices will continue to strengthen in 2019.
On November 2, U.S. Steel president David Burritt stated, “Order rates, lead times… those are things [where] we’re seeing a greater sense of urgency – particularly with service centers.”
With an increase in scrap prices, the price of steel sheet products has stabilized and set to increase based off market conditions.
Even with a $2 billion revitalization program, U.S. Steel does not predict adding excess capacity to the market.
In addition, Burritt is expecting Section 232 tariffs to remain in place because of their importance in maintaining a fair trade environment.
Undoubtedly, the market will continue to be volatile, which is one reason to set up a stocking program with Ace Steel Supply.
It is best to go with a proven expert in their field.
Call us if your company requires a secure supply of stainless sheet, aluminum sheet, cold-rolled sheet or galvanized sheet metal.
When you are ready to save time, money and make your steel buying easier, give us a call. Our sales team is waiting to work with you.
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