US market eyes flat steel imports, but volumes decline in April

摘要

While increased domestic flat steel prices could invite more imports into the United States, according to market participants, preliminary Census data shows that shipments of finished steel products in April declined on a year-on-year basis. Domestic flat-rolled steel prices have gone up in the past two weeks as a result of higher scrap costs, slowly recovering demand and mills’ second attempt to raise prices. The second wave of sheet price increases, which began last week, means that domestic steel producers are seeking prices that are roughly $100 per ton higher than their prices at the end of April. Even though sources understand that the pricing strength can be supported by rising raw material costs, extended lead times at some mills and significantly reduced capacity, most of them agreed that the impact of the price hikes may be short-lived unless demand improves dramatically.