STEEL MILLS BOOSTING PRICES: COLD-ROLLED COIL HITS A ONE-YEAR HIGH

NEGOTIATOR'S TAKE Apr 18, 2016 No Comments
Cold Rolled Steel Coil Substrate For Prepainted Galvanized Steel Sheet Coil

 

NEGOTIATOR’S TAKE:  With cheap imports gone, North American steel makers keep raising prices.

 

04.18.16 – Trading barely above multiyear lows

Steel is being a different animal this year. While metals such as aluminum, copper and nickel are trading barely above multiyear lows, we are witnessing strong price momentum in domestic steel prices.

 

Cold-rolled coil is a good example. Prices last week climbed above $600 per standard ton, the metal’s highest price level since April 2015.

US-CRC-hits-1-year-high_opt

U.S. Cold-rolled coil hits one-year high | Source: MetalMiner index

 

Why, in an oversupplied market, did steel prices get a boost?

The duties imposed on steel products caused steel imports to taper down in a big way over the last three of months and U.S. steel mills now have the power to raise their base selling prices. U.S. aluminum markets didn’t enjoy this kind of protection. However, even if they did, which they might, aluminum prices wouldn’t get the same boost.

Read the rest of this ProPurchaser sourced article, HERE. (Includes free downloads of The April 2016 MMI Report and Metal Miner’s April Buying Outlook)

 

SOURCE: Metal Miner

ARTICLE AUTHOR: Raul de Frutos | Follow Raul on: LINKEDIN

 

Adam

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