STEEL PRICES IN THE UNITED STATES ARE STARTING TO RISE

Following Russia's invasion of Ukraine on February 24, 2022, hot rolled coil prices in the United States increased in March and April. This brought an end to a six-month-long downward pricing trend.

27 May, 2022 by
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Many consumers were concerned about supply constraints and ordered excessive quantities as a result. The expected market scarcity of steel items, on the other hand, did not materialize. The war's consequences were exaggerated. The availability of coil, in particular, is now improving.

Demand is starting to decrease, but most end-user sectors are still doing well. Because of their high inventory, distributors and service centers are buying in smaller quantities. The automotive industry in the United States is performing below pre-pandemic norms. As a result, mill order books are shrinking and delivery lead times are shrinking.

Imports are decreasing.

Domestic supply growth is having a negative impact on import quantities, which are presently decreasing. Many US buyers are put off by high freight prices and long shipping delays from Asian providers. Closer to home, third-country suppliers are less competitively priced.

If the price disparity between the US and other nations widens, however, more appealing quotations are likely to be given. Traders have already reported an increase in the amount of mill offers they have received from Europe.to be presented if the differential between US prices and those in other countries widens. Traders already report an increased number of offers received from mills in Europe. 

The materials and information on this article have been prepared or assembled by Viet Nam Steel and are intended for informational purposes only.

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