The US steel launched a new round price increases for sheet, but the market for imported concerns intensified.
In the sheet, the U.S.sheet steel market raised the bottom prices. After the first three price increases, U.S.sheet steel market stalled for several weeks and then steel mills launched a new round of steel price increases last week, the range of 20-25 U.S. dollars / short ton, to prevent steel prices down. Currently, the U.S.hot rolled and cold rolled respectively raise prices to $ 675 / short ton and $ 775 / short ton while the actual ex-factory price was 645-650 U.S. dollars / short ton and 745-750 U.S. dollars / short ton. Steel mills think that the main reasons for the U.S. market to be able to further digest the price increase for 20-30 U.S. dollars / short ton are mainly the decline of the service center inventories , steel delivery extension and the narrowed price margin between the local prices and import’s quotes, and all of these factors are conducive to raise prices. However, because the recent steel prices rose too much, buyers are very boycott on price increases and then some buyers are turning to imported products. It is expected that theU.S.sheet steel market will remain strong within the next 1-2 months, but further upside is limited.
In the Plate steel, the U.S.plate steel market raises price. Driven by the steel price increases of 30 U.S. dollars / short ton in the early month, U.S.plate steel ex-factory price rose 15 U.S. dollars / short ton to 695-715 U.S. dollars / short ton, an increase in market purchases. But because the delivery time is short and the market supply loose, the steel mills¡¯ prices is hard to offer strong and then large orders can still get a discount. It is expected to postU.S.plate steel market will consolidate up.
In deformed bar, the U.S.deformed bar market was up. With raw material price increases and the improvement of the international market, the U.S.deformed bar market rose slightly. The local mainstream ex-factory price remained at 620-640 U.S. dollars / short ton, a few to $ 645 / short ton deal. Imported resources offer also slightly higher, which Turkey resources mainstream price remained at 585-595 U.S. dollars / ton (CFR), a few deal prices at $ 600 / ton (CFR), while Mexico resources at 610-615 U.S. dollars / ton (CFR).The local steel prices was under pressure due to the current port imported resources abundant and intense market competition. However, it has been revealed that the third quarter will increase in new projects, so steel mills and traders outlook cautious optimism on the market. Expected U.S. deformed bar market will remain stable in August, or somewhat higher rate in September and it may be within 20 U.S. dollars / short ton.