U.S. steel market tend to be stable and steel prices stop falling for rebound


    U.S. plate market remains strong and wire rod mills have started to raise prices. In the sheet, theU.S.plate market is firm. As the automotive industry needs better as well as inventory and supply support for steel prices, the U.S. hot rolled and cold rolled ex remained at 640-650 U.S. dollars / short ton and 740-750 U.S. dollars / short ton and a small turnover is higher. It is said that currently imports more gather in port area, but inland areas have weak competitiveness on imported resources, overall, there are little pressure on steel prices. However, steel mills mean that they take into account global overcapacity and demand continue to slump, which raising prices again may result from imports risk to increase, so within a short period of time steel plant no further plans to increase prices.

    In the Plate, the U.S.plate market stable. Since a week ago, U.S. three large steel mills first raise the prices to 30 U.S. dollars / short and then other mills has also come up the actual quote last week, but this round of price increases are unable temporarily to achieve the steel plant¡¯s anticipation due to the terminal lack of demand. Currently, the U.S. A36 commodity grade plate¡¯s Ex maintained at 680-700 U.S. dollars / short ton since late June remained unchanged, but confidence in the market has improved, it is expected the next few weeks the U.S. plate market will gradually be pushing.

    In the wire, theU.S.wire rod market tends to rise. Despite the July U.S. scrap prices, but because of import competition, steel mills announced July longs prices remain unchanged. However, recently, compared to the mid-June, with wire price reduces $10 per short ton, which is about $650-660 per short tons, and partly traded as low as $640 per short ton, from the last November until now, as the lowest level. Recently, the U.S. Steel mill Keystone announced the August delivery price increased $ 15/ short ton for all wire. Other mills are expected that will follow price increases in the coming days. Although the market for August scrap trend is not good, but steel prices have bottomed out, so the insiders is expected that the U.S. wire rod prices will be driven by a slight rebound in the price in August.

European rebar prices rose considerably

With international steel prices and raw material market prices rising, as well as northern and southern Europe steel mills insuring,Central Europerebar market began to rise. Currently, Polish steel mills offer 2020 PLN / ton (481 euro / ton), the actual transaction 1960-1980 PLN / ton (467-471 euro / ton).

     In anticipation of rising steel prices, market confidence generally improved and inventory replenishment activities increased, while steel mills supply cuts, so dealers expected to rally round till the end of September or early October, rebar prices or to reach 2100 PLN / ton (500 euro/ ton).

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