U.S. Flat Product Prices Fall

US hot rolled coil transaction figures slipped further in June, as was expected. There is still domestic overcapacity, despite the demise of RG Steel. Delivery lead times have shrunk and local mills are facing severe competition from attractively priced Russian coil now standing at the docks. Buyers are expecting a further decrease for the summer.

Hot rolled plate transaction figures declined again in June for a number of reasons.

Firstly, to compete with foreign inventory at the docks, much of which is of Russian origin. Secondly, scrap prices are starting to tumble due to a lack of international demand. Moreover, sales are weak, which is typical of this time of year. This is adversely impacting on steelmakers’ order books and, consequently, delivery lead times are shortening. Further decreases in plate prices cannot be ruled out.

via US flat product prices roundup – MEPS.

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