US flat steel prices gain slightly, but fall short of mill offers – Platts

Metals , Steel Feb 06, 2011 No Comments

The Platts price assessments for US-made hot-rolled and cold-rolled coil both increased $10/st Friday — based on deals, firm bids and offers — according to participants active in the market, but pockets of buyer resistance started to emerge.

As such, the assessment for US-made hot-rolled coil settled squarely at $800/st ex-works Indiana, reflecting a trading range of $790-810/st for a typical spot order of 1,000-2,000 st. Several buyers indicated reluctance to purchase at $840-850/st ex-works, which were the asking prices from most major mills for March deliveries.

Cold-rolled coil was priced $105/st higher than HRC, trading at a midpoint of $905/st ex-works Indiana, and showing a somewhat firmer market than HRC, but still $40-50/st shy of most mill offers.

“I think the mills have become hoggish now,” a big end-user in the Chicago area said. “We don't need [HRC] steel again until April or May, but I’ve been inquiring and most mills will sell at $800-820/st right now. ArcelorMittal USA still has not opened its April spot order book.”

via US flat steel prices gain slightly, but fall short of mill offers – 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.