Upward steel price momentum slows in February, scrap falls

摘要

Restocking activity in the US is coming to an end for many steel markets, slowing the velocity of price increases. As orders placed at mills associated with inventory builds have slowed, so too have most price gains. Sheet prices in the US Midwest market reached a peak of $596 /s.ton in late January. Our second-Wednesday price continued to show m/m gains in February, though weekly prices have now fallen by as much as $26 /s.ton since the recent peak. HDG coil prices reflected this same trend as they were higher by $9 /s.ton m/m, yet now down $30 /s.ton from their recent peak. The current HDG coil price reflects a base price of $779 /s.ton and a G90 coating weight of $68 /s.ton on .06” substrate.