US flat-rolled steel prices edge $5/st higher on decent demand – Platts

Metals , Steel Mar 10, 2011 No Comments

More spot deals came to light Wednesday in the US flat-rolled market, pushing up by $5/st both of the Platts assessments for hot- and cold-rolled coil supplied by domestic mills.

The range of deals assessed by Platts for US-made HRC fell within a wider spectrum of $850-880/st, resulting in a higher midpoint of $865/st ex-works Indiana, with lead times reported at four-to-six weeks by active buyers.

Lead times for cold-rolled coil were two to three weeks longer at most mills, sources said, and the CRC price reached a midpoint of $970/st ex-works Indiana.

“Several mills are starting to look at May,” said a major Chicago-based buyer, “and one reason is because ArcelorMittal has very little spot availability for April.” He reasoned that ArcelorMittal's contract business has been strong thanks to automotive, leaving fewer tons for the spot market.

Auto sales, inventory and production in the US all look like they will support steel demand, according to Josh Spoores, chief analyst at Ohio-based Steel Reality.

via US flat-rolled steel prices edge $5/st higher on decent demand – Metals | Platts News Article & Story.

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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.