US FLAT PRODUCT STEEL PRICES ESCALATE IN JANUARY

US FLAT PRODUCT STEEL PRICES ESCALATE IN JANUARY

US flat product transaction values advanced, in January, to halt the negative pressure on steel prices for much of last year.

In December, North American steel mills announced price hikes of up to US$40 per short ton. Local producers escalated list prices for a second time, this month, following higher scrap prices.

In January’s edition of the International Steel Review, MEPS reports that higher transaction values have been noted as customers restock following the seasonal holidays. Buyers may not accept further increases as delivery lead times remain short.

In China, flat products selling values strengthened in early January as major producers announced increases. However, domestic transaction values softened recently as the Lunar New Year approaches.

High import penetration of Chinese exports have put further negative pressure on domestic South Korean transaction prices.

In Poland, selling figures stabilised, this month, despite market activity remaining muted following the Christmas holidays. In contrast, Czech/Slovak transaction values fell further as local producers offered discounted prices to secure orders.

Source: MEPS International Steel Review – January Issue

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