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21 Feb

US HRC slumps while buyer recalcitrance pressures mills

US steel sheet pricing is deteriorating again this week while buyers perceive that they should wait for still-lower levels before stocking up, Kallanish hears from market participants. Hot rolled coil declined for a fifth straight week, tumbling to $900-920/short ton, from last week when the range was $1,000-1,010/st. The January high was $1,080-1,120/st. Cold roll coil prices have slipped to $1,250-1,260/st from $1,260-1,270/st last week. This is the fourth…
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