North American Highlights

摘要

While not all bad, economic news in the USA continues to be mostly negative, as contagion from the housing finance catastrophe spreads. Nevertheless domestic steelmakers are leapfrogging over each other with ever higher price demands and in an apparent defiance of reality, seem to be getting what they ask. Prices in the late January HR coil spot market moved up swiftly as dealers found that business picked up on schedule after the holidays, putting their meagre stocks under pressure. In February most coil mills were booked out for at leasta month ahead and quoting record prices, as high as 36.50 dollars/UScwt (805 dollars/tonne), for spot deals in the HR coil market for second-quarter supplies. Service centres are paying less than this for February-March deliveries but concede that they may have to pay prices close to this in any new deals. The spot price of CR coil on the same basis is not far short of 40 dollars/UScwt (882 dollars/tonne) and coated coil is priced at 46-47 dollars/UScwt (1,014-1,036 dollars/tonne). Plate mills have also achieved big increases; from less than 40 dollars/UScwt(882 dollars/tonne) in December, prices for carbon grades have moved up to 44-45 dollars/UScwt(992-1,014 dollars/tonne).