Japan Disaster Weighs on Steel – WSJ.com

Metals , Steel Mar 17, 2011 No Comments

The price of hot-rolled steel, which is widely used and considered a benchmark product, has fallen about 3.5% to about $735 a metric ton in China since earlier this month. However, prices of hot-rolled steel in the U.S. continue to rise.

Weak demand for steel in Japan, the world’s third-largest consumer, is further depressing spot prices for iron ore and some steel products throughout the world following last week’s earthquake.

Spot iron-ore prices continued to fall in Asia by about 3.4% to around $147 a metric ton in the past week. As recently as February, spot iron-ore prices were hovering around $170 a metric ton.

The price of hot-rolled steel, which is widely used and considered a benchmark product, has fallen about 3.5% to about $735 a metric ton in China since earlier this month. However, prices of hot-rolled steel in the U.S. continue to rise.

via Japan Disaster Weighs on Steel – WSJ.com.

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Rod Sherkin

Rod is a former senior executive, responsible for Purchasing, for both Pillsbury and Ball Packaging back in the 80’s and 90’s. Since then, he has continued to work in the Purchasing field as both a consultant and founder of the website Propurchaser.com.